There is significant debate over whether to overhaul tax rules for U.S.-based businesses that encourage outsourcing investments and employment overseas, and whether to crack down on multinational tax-shelter abuses, which critics say divert funds needed to address the U.S. debt burden. Some believe such measures will help address a weak job market and troubling budget deficits. But others say higher taxes on U.S.-based multinationals will lead to an exodus of business, investment, and jobs. This section looks at challenges and solutions for addressing corporate taxes.

The Renewing America project focuses on six major challenges facing the United States: debt and deficits; infrastructure; education and human capital; corporate regulation and taxation; innovation; and international trade and investment.