Thank you, Mr. Chairman, and welcome to all of our witnesses.
I'd like to take up where Mr. Adler left off with you, Mr. Spiro. I appreciate your being here. I know of your work at Dentons LLP, and your expertise in tax litigation is well known.
We're very concerned on this part of the committee about tax havens and international tax, in which you have a great deal of expertise. You talked in your remarks about the thin capitalization rules, and this bill purports to broaden them. You talked about its extension to non-resident trusts. But you also said there needed to be some additional fine tuning so these would not be offensive from a policy perspective.
I'd like any insights you might be able to provide about whether we're on the right track, and how we might do a better job on enforcement in respect of tax havens.