August 30, 2016

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TechNet Calls on Congress to Act on Tax Reform in the Wake of the European Commission’s Tax Ruling

Washington, D.C. — TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today called on congressional leaders to implement lasting tax reform following the European Commission’s ruling on Apple’s European tax obligations.

“The tax ruling out of the European Union should be a wake-up call to America,” said Linda Moore, president and CEO of TechNet.  “This is proof positive that Europe has embarked upon a concerted effort to carve out a significant chunk out of the U.S. tax base in the effort to raise billions of euros.”

"If we fail to act, American companies that operate in Europe and around the globe will continue to be targeted, with irreparable harm to the U.S. tax base and our overall economy.  Worse, these troubling trends could force jobs that would be otherwise created in the United States to be located overseas.”

“That’s why we urge our leaders in Congress on both sides of the aisle to find meaningful and lasting solutions to our broken corporate tax system.”

 In April, Linda Moore published an op-ed in The Hill calling for Congress and the Obama Administration to fix America’s ailing international tax system.

About TechNet
TechNet is the national, bipartisan network of technology CEOs and senior executives that promotes the growth of the innovation economy by advocating a targeted policy agenda at the federal and 50-state level.  TechNet’s diverse membership includes dynamic startups to the most iconic companies on the planet and represents more than two million employees in the fields of information technology, e-commerce, advanced energy, biotechnology, venture capital, and finance.  TechNet has offices in Washington, D.C., Silicon Valley, Sacramento, Seattle, Boston, and Austin.

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