UPS CEO Abney: Support Comprehensive U.S. Tax Reform

The transcript discusses the potential turning point in corporate tax reform in the US, highlighted by a recent decision involving Apple. UPS's stance on the matter is explored, emphasizing their support for comprehensive tax reform. They advocate for stability, a competitive tax rate of around 25%, and a territorial tax scheme to repatriate overseas profits. The need for a broader corporate tax base is also highlighted as essential for achieving these goals.

What recent event is suggested to be a turning point in corporate tax reform?

• A statement by the Secretary of the Treasury

• A new trade agreement

• A new tax law passed by Congress

• A decision by the Federal Reserve

What is the proposed competitive corporate tax rate mentioned in the discussion?

• 30%

• 25%

• 20%

• 15%

What is the significance of a territorial tax scheme according to the speaker?

• It allows companies to avoid taxes completely

• It enables companies to bring back profits from overseas

• It increases the tax rate for foreign companies

• It simplifies the tax filing process

What is required to achieve a competitive tax rate, as per the speaker?

• A broader corporate tax base

• A reduction in government spending

• Higher taxes on small businesses

• Increased tariffs on imports

What does the speaker believe is necessary for working with the US government on tax reform?

• Maintaining the current tax system

• Implementing a flat tax rate

• Changing fundamental aspects of the tax system

• Increasing taxes on high-income individuals