Senator Rand Paul is coming under pressure from some multi-national businesses to drop his opposition to tax treaties between the United States and other nations.
Citing privacy concerns about Americans’ tax data, Paul, a Republican and libertarian, has single-handedly blocked Senate action on treaties with Hungary, Switzerland and Luxembourg that have been signed by authorities on both sides, but have been awaiting Senate review since 2011.
At least six other tax treaties or treaty updates — with Chile, Spain, Poland, Japan, Norway and Britain — may soon be added to the Senate’s queue for confirmation votes.
Major U.S. businesses such as IBM Corp and Fluor Corp are lobbying for Senate action on tax treaties, according to Senate lobbying disclosure documents.
“How many treaties will be held hostage?” asked Cathy Schultz, a lobbyist for the National Foreign Trade Council, a Washington, D.C.-based group that represents companies such as Caterpillar and Pfizer.
Paul has said he is concerned that recent treaties would give foreign governments too much access to U.S. citizens’ tax information, a stance that has some support among like-minded conservative libertarians.
“Rand Paul is not a typical senator who may bend over to business lobbyists,” said Chris Edwards, director of tax policy at The Cato Institute, a libertarian think tank…
He’s right. Paul bends over for the thugs who own the business lobbyists. And the Cato Institute btw.
No new tax treaties or treaty updates have been approved since 2010, when Paul was elected as the junior senator from Kentucky on a wave of support for Tea Party-aligned Republicans.
Paul recently declined to answer questions from a reporter in a Capitol hallway about the “hold” he has placed on the treaties. Under Senate rules, one senator can prevent a motion from reaching a vote on the Senate floor…
In recent years, tax treaties have begun to play an increasing role in efforts by the United States and major European Union countries to crack down on tax avoidance.
The U.S. Treasury in 2012 began signing new tax pacts with countries as part of implementation of the U.S. Foreign Account Tax Compliance Act, a 2010 anti-tax-evasion law.
Hilarious. Because nutball Tea Party libertarians consider taxation intrusive to their privacy – and private gain – there are a few opportunist Republicans who think this suddenly makes that party less pro-Business.
It may show the party to be pro-stupidity by trying to interfere with global commerce; but, Paul isn’t doing so on behalf of people who are screwed by global corporations. He’s doing this to protect the profits squirreled away in tax havens like Switzerland and the Cayman Islands by crooks who wouldn’t pay a fair share to their own funeral if they could get away with it.