Marc Gerson was quoted regarding Senate Finance Committee Chairman Max Baucus's recent international tax reform discussion draft. While the discussion draft assumes that the corporate tax rate would be lowered to the "high 20s or low 30s," the tax burden on the foreign earnings of U.S.-based companies would likely increase as a result of the discussion draft, according to Gerson. "Any way you slice it, you look at this and say there's going to be a higher tax burden on international operations," he said.