Andersen Managing Director Joe Calianno’s comments are featured in the recent Tax Notes article, Senate GOP Opts for International Tax Regime Redesign. The article focuses on the new international tax provisions included in the Senate version of the proposed One Big Beautiful Bill Act. Businesses and tax practitioners will need to use a holistic approach to evaluating how the proposed changes may affect them, Joe said. For instance, the proposal to make the controlled foreign corporation (CFC) look-through rule permanent and limit downward attribution would be beneficial for businesses. However, other proposed changes, such as raising the BEAT rate, may make things more complicated for businesses, he noted. However, Joe said it is also important to consider the taxpayer-friendly proposed exemption for base-erosion payments made to high-tax jurisdictions with an effective tax rate greater than 18%. “You have to look at it as a whole,” Joe concluded.