Accounting News Roundup: CFOs v. Corporate Tax Code; IRS Eyeing Wealthy Donors to Political Groups; Russians Planning for Next Saturday | 05.13.11
CFOs Hate the Corporate Rate [CFO]
Finance chiefs were in the spotlight on Capitol Hill Thursday as they testified before the House Ways and Means Committee about the corporate tax rate. At a hearing convened by committee chairman Dave Camp (R-Mich.), CFOs Greg Hayes of United Technologies, Mark Buthman of Kimberly-Clark, Ed Rapp of Caterpillar, and James Crines of medical-device maker Zimmer Holdings testified that they would like to see the rate lowered and the tax code overhauled to reduce complexity and enable better planning.