The Treasury Department’s deputy assistant secretary of tax analysis, Kimberly Clausing, is leaving the Biden administration.
Clausing, an expert on corporate profit shifting, was part of the administration’s team that sought to recoup money the government was owed but didn’t collect. She pushed to increase taxes on corporations and wealthy Americans, including upping the domestic corporate rate to 28%.
Tuesday was her last day, according to people familiar with the matter. Clausing is returning to academia, a Treasury spokeswoman said. Clausing was an economics professor at Reed College in Oregon before she took a post at UCLA School of Law.
Clausing had provided the administration with advice on profit shifting — the practice by many companies of setting up entities in lower-tax jurisdictions to avoid levies in higher-tax nations like the U.S. — as the Biden team crafted plans to overhaul corporate taxes in the U.S. and abroad and collect more revenue.
Those plans, part of the Build Back Better package, have stalled in Congress, and a global tax accord has run into other issues.
Greg Leiserson, who currently works for the Council of Economic Advisers, will likely take the post Clausing is leaving, one of the people said.
— With assistance from Scott Lanman
