A Global Warming, and as you indicated, now changing over to a Global Climate change, it is not the lower 48 Climate Change. We could dot something unilaterally in the United States while the rest of the world is going to be dependent on fossil fuels for a long, long time . Th are burning a coa a cold plant a week. They are barely keeping up with their demand. Here here in the United States re pro prohibiting thewe a construction of the newhi coal plants it doesnt make sense to penalize when if indeed this is going on it calls for a global reaction. You are seeing what is happening in europe right now. They were the first group of countries to sign on to the kyoto protocols. They were the first half to be able to meet the targets. In the United States we didnt sign on to the protocols but guess what the measures are the lowest theyve been in 20 years. We beat the system. So what can we do while having a manufacturing renaissance brought back to the United States while gaining the leade
Thank you. A minute before the red light comes on on the timer you will see a light changed from green to yellow, giving you an opportunity to conclude remarks. Your written testimony will be printed in the record in its entirety. Please let your oral testimony to ten minutes. And i understand that you will be presenting the statement for caterpillar. Is that correct . Yes, i well. Please proceed. Good afternoon, chairman levin, senator mccain. Thank you for the average into the job. For the subcommittee today. My name is julie legacy, and i am the vicepresident of the finance Services Division of caterpillar which includes tax and accounting function. On my left is caterpillars director of global tax and trade robin baron, a 24 year caterpillar employee. On my right is right perkins, who retired in 2009 as one of our International Tax managers after 35 years of service debt. We are proud to represent caterpillar before you today. Caterpillar is a Great American company, and our reputa
Percentage terms the opportunity to move from 35 tax rate to a 10 tax rate is a 25 percentage point improvement. Thats material. When you Start Talking about 20 tax rate moving to a temper sent tax rate thats only 10 Percentage Points and when you look at the cost of the relative benefits of becomes much more of a push so i think Companies Might be looking at those sites of that question both the basis of taxation in terms of its territorial, need for a territorial system as well as the tax rate that would apply. Their feeling is that it might actually a lower tax rate being more income into the tax net. I think thats very likely and in fact he would see a lot of repatriation of the 2 trillion tied up overseas. You are going to bring it back at the high rates of the two are combined. Let me make the obvious point which is we have done this before. In the 1980s we looked at her tax code and said lets end up with the rate that is below the average to be competitive. This was an a in 1986
Science, is influencing decisions on public health. Theres a lot to get to this morning. First, lets go to cnns pamela brown in washington for the latest on this uspa hearing. What do we expect here . Certainly hard questions from democratic lawmakers. How is the postmaster general going to answer . Well, that is the question, and this is likely to be much more contentious, jim, than what we saw last friday before the senate. This is the emergency oversight hearing led by House Democrats. Remember, it was just last week that nearly 100 House Democrats were pushing for dejoys ouster. Of course, this comes as democrats over weekend voted on this bill that would reverse changes dejoy has made as the postmaster general and would halt any further changes until after the pandemic, now the uspa pushed back on that over the weekend saying that that would hamper its ability to be efficient and to cut necessary costs, but expect House Democrats today to scrutinize dejoys changes that he has made
Affordable internet so homework can be just homework. Cox, connect to compete. Cox, along with these other television providers, giving a frontrow seat to democracy. Next, testimony on oversight of the Banking System and the cryptocurrency market held in the wake of the recent collapse of the krips exchange f. T. X. Other topics include the impact of the economy on Banking Systems, lending in rural, native, and minority communities, and banking reform. This is two hours and 10 minutes. Senator brown the Senate Committee on banking, housing, urban affairs will come to order. Welcome to the witnesses and committee members. We know that most americans want the same things, a safe, affordable place to call home a good paying job. A strong stable government which they can trust. Our Democratic Institutions are only as strong as the people who empower them. Our economy works best when we have a free and fair democracy in which everyone can live lives with dignity for too long. Many of these