To reach those kinds of levels changing the way that people are thinking about the electricity or the Energy Market systems that they are being incorporated into . Thats a good question. Look, its a cliche but this is truly disruptive technology. We have we built an electric system that is hub and spoke, thats been around for a while now and is centrally controlled. With exceptions, relatively manageable. The sheer nature of distributed power, whether thats pv or maybe its microwind or other things, is that creates challenges. Thats a change. Then throw in the fact that there is the unpredictability about when you get the juice. That creates further uncertainty. Look, the answer is that i think your program is great and people are trying to think about where the utility fits in everything. Theres a lot of smart thinking and reconsideration going on. Theres some people who are saying, i know where the utility fits. Its where it has always fit. This is a fad and its going to come and go.
The finance committee will come to order. The u. S. Tax code is infected with the chronic diseases of loopholes and inefficiency. These infections are hobbling americas drive to create more good wage, red, white and blue jobs here at home. They are a significant drag on our economy and are harming u. S. Competitiveness. The latest outbreak of this contagion is the growing wave of corporate inversions where American Companies move their headquarters out of the United States in pursuit of lower tax rates. The inversion virus now seems to be multiplying every few days. Medtronics proposed merger was record breaking when it was announced in june. But the ink in the record books had barely dried when abv announced its intention on friday to require shyer for almost 55 billion. According to the july 15 edition of marketplace and im going to quote here whats going on now is a feeding frenzy. Every investment banker now has a slide deck that theyre taking to any possible company and saying, yo
Yes, senator. We fully agree. We think youve shone a light on a very dangerous part of the inversion craze. The ability the day after the inversion transaction to continue to strip the u. S. Tax base we have a Budget Proposal to that effect, but think you are pointing to a very critical aspect of the problem. Thank you. I want to say to companies doing inversions, you want to operate here, you want access to this market, access to the work force, access to the economy, understand this here today, to continue to have that access, you are going to have to pay your fair share of u. S. Taxes. Things are changing. Thank you, senator schumer. The time for the vote has expired. We are going to go. Im going to come back as quickly as i can. Thanks. I wanted very much to be here even though we have to go running out. Thank you to each of you. I want to say to my colleagues, we have a place to start tomorrow which is to bring jobs home act. Im very pleased to be working. It takes a simple first
Opposite. Indeed, american welfare can be advanceded by ensuring that investments in the u. S. And abroad are owned by the most productive owner and the americans flourish. A goal now adopted by most comparable countries. While the developments described above have crystallized t case reform still variation in proposals for territorial regimes. Some proposals including those with an alternative minimum taxn foreign profits or can amount to a backdoor worldwide regime with more complexity than todays system. The considerations figure largely in tax reform today but should be accorded second area status given the limited revenue in the International Tax rules and the remarkable complexity distortions required to secure any such revenue. It isnt clear that policies should prioritize other countries. More broadly the International Reforms in the reaction reforms to address the other developments in the Corporate Tax arena and the prominence of the corporate business income and the disjunct
Reports shortly before the polls closed former governor and his First Cousins watching party was simply saying im a little concerned our primaries have become out of control over allegations and things and i think we have to reestablish ground rules about the allegations that are reasonable. The story says he was speaking on the run of runoff cycle of te longest costly history that is that both businessmen and the representative Jack Kingston for an open senate seat. The next governor of the republican honcho says they argue that the system needs to be overhauled. The director of National Intelligence said today that the terrorist attacks increasing and the former employer in florida spoke at an events to mark the tenth anniversary of the Commission Report. This is an hour and a half. [applause] well thank you very much. I apologize for being late. Im sure you understand. I do want to thank the vice chair and the 9 11 commissione commissioners. The right thing to thank them for is the