“Mr. Chairman, thank you for calling this hearing today on income tax reform proposals. This is our second hearing in a month, and I do not believe we are any closer to reforming our broken and inefficient tax code. Time is of the essence Mr. Chairman: the American people are imploring us to act. We need to replace our current code with one that promotes job growth, lifts wages for all workers, and grows the middle class.
“The Panama Papers have highlighted the urgent need to crack down on those that engage in exotic tax schemes in order to evade paying their fair share. If the recent wave of inversions were not enough to spur this committee to action, perhaps the Panama Papers will.
“Mr. Chairman, at the very least, I hope that we can use this subcommittee to hold hearings on these shocking revelations. Reforming our tax code remains the utmost importance. I look forward to hearing from our witnesses today on how their plans will create jobs, promote economic growth, and crack down on those that engage in tax evasion."
