With Congress on recess until September 9, the chairmen of the Senate Finance Committee and the House Ways and Means Committee are slated to visit Intel Corp. and Square Inc. later this month to talk tax reform with the tech companies, the panels announced Thursday.
Senator Max Baucus (D-Montana) and Representative Dave Camp (R-Michigan) are scheduled to travel to Square's San Francisco headquarters on August 19 and Intel's head office in Santa Clara, Calif., on August 20. The trip will follow stops they made last month at 3M Co. in Minnesota and small businesses in Pennsylvania and New Jersey to hear companies' experiences with the U.S. tax code.
"America's tax code is inefficient, outdated, and overly complex," Baucus and Camp said in a joint written statement. "It is stifling innovation and holding back America's economic growth. We have a chance to fix the broken code so more jobs are created and paychecks get bigger."