Chair of House Ways & Means Committee: Work on residence-based taxation for individuals will continue
AmCham Singapore continues to lobby for better taxation policy for both American workers and American companies, and is working closely with APCAC leaders to advocate for a territorial tax system. Speaking on the floor of the U.S. House of Representatives recently, Representative George Holding (R-NC) voiced his support for residence-based taxation: “I […] support this historic bill that will put our economy back on the path to stable and sustained growth. This bill finally levels the playing field and restores the global competitiveness of American businesses by moving to a territorial system.”
Championing the cause, Ways & Means Committee Chair Representative Kevin Brady (R-TX) reiterated support, saying that “Residence-based taxation is an idea we should continue to explore. We’ll continue to work on this issue […].”
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