a bold bet by the beleaguered retailer that shoppers and workers will flood back there after the pandemic.

offshore tax evasion. “The tax gap is a massive problem, especially the part driven by ultrarich individuals and corporations stashing income overseas,” Senator Sheldon Whitehouse of Rhode Island, the subcommittee chair, told DealBook. That gap “could be as much as a trillion dollars,” he said. “That’s trillion with a ‘T.’” This money would help fund President Biden’s spending plans, which also run into the trillions.

It’s difficult to quantify just how much money goes uncollected each year, officials say. Corporate tax collections in the U.S. are “at historic lows and well below what other countries collect,” according to a recent Treasury report. U.S. multinational companies can be taxed at a 50 percent discount compared with their domestic peers, an incentive to shift profits abroad. “Bermuda, a country of merely 64,000 people, shows 10 percent of all reported U.S. multinational foreign profit,” the report explained.

“The Biden administration is serious about stopping tax cheats and so are we,” Whitehouse said. The hearing, which features I.R.S. and Treasury officials, will discuss legislation to end corporate tax breaks that incentivize profit shifting, a proposed $80 billion investment in I.R.S. enforcement, a new approach to international tax diplomacy and proposed changes to the tax code.

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