WASHINGTON - U.S. Sen. Orrin Hatch (R-Utah), a senior member of the Senate Finance Committee and chairman of the Senate Republican High-Tech Task Force, today lauded public officials for stating that tax increases on U.S.-based multinational businesses proposed by the administration earlier this year should not be used to pay for health care reform but will be considered in connection with tax reform later. 

"I am encouraged by the administration's and Rep. Rangel's comments that international tax proposals will not be considered outside of broader corporate tax reform," said Hatch.  "Democrats and Republicans alike are acknowledging that these controversial proposals should not be used to pay for health care reform." 

Rangel yesterday commented that international proposals will be considered in a tax reform context, not with healthcare, and, earlier this week, National Economic Council Chairman Lawrence Summers commented that the administration will take a serious look at overall corporate tax reform. These statements are indications that these proposals will not be used by Congress to raise revenue immediately from U.S. based companies for health care reform by changing international tax rules, as many have feared.

"However," Hatch continued, "I urge my fellow Republicans, especially those of us on the High-Tech Task Force, and the business community, to continue to educate members of Congress on the harm these proposals would cause to U.S. competitiveness and jobs.  At a time of staggering unemployment rates and increased globalization, raising taxes on some of the best job creators in this country would prove to be detrimental to the country and to our future economic growth."