A primary objective of U.S. tax policy should be to maximize the potential growth rate of the U.S. economy. The U.S. tax system has not kept up with the tax systems of our major trading partners and now impedes the ability of U.S. companies to operate on a level playing field with their foreign competitors in markets both at home and abroad. Necessary reforms include a reduction in the U.S. corporate tax rate, one of the highest in the world, and improvements in U.S. international tax rules.