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Loren Ponds Comments on Ways to Refine the Tax Code in Bloomberg Law

"Biden Tax Plan Seen Hitting Technology, Pharmaceutical Companies"

Bloomberg Law

Loren Ponds weighed in on the likely impact of President Biden's tax plan on technology and pharmaceutical companies, given that much of the most valuable assets of these companies is often intellectual property. In response to the assertion that the tax proposals are expected to have a significantly harsh impact on these sectors in particular, Ponds noted that the Tax Cut and Jobs Act (TCJA) "went a long way to increasing U.S. multinationals' competitiveness," and suggested that future refinements – which are inevitable – could present opportunities to build on past reforms in a more nuanced way.