In a speech given on the Senate floor on 21 April 2016, Finance Committee Chairman Orrin Hatch R-UT spoke on the need for major tax reform. Regarding inversions, Hatch stated that he was working a simple but effective tax reform proposal that "would provide more carrots to keep companies from inverting and fewer sticks to punish companies that try to go in that direction." He also stated that additional details of his proposal would be released in the coming weeks and that "the basic idea behind [his] proposal would be to streamline the taxation of business income and eliminate instances...