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Committee will come to order. Today were holding a hearing to discuss a timely topic. Theres been numerous hearings on Cyber Security and how to stop the bad guys. Whats not been discussed in great detail is what the consequence will be from a massive cyber attack that brings down for example a large portion of the electrical grid for an amount of time. The purpose is to answer an important question. With respect to suber threats to the electrical power system, what consequences should the federal government tell states and local governments to prepare for . In other words, for how many people...

On him. The joy and peace in that mass were a gift to many, who continue to respond to it. Since his death, i have learned so much about my fathers faith and how he lived it. That our understanding of him continue to grow in to death. That we have a new understanding of gods love. Some of my friends have expressed this beautifully in the jewish tradition. May his memory be a blessing. It is that and a source of grace and opportunity to grow in faith. I cannot think of any greater legacy. Thank you. [applause] thank you, everyone. [applause] [captions Copyright National cable satellite corp. 20...

The electrical grid is under attack and then the power sector is all too familiar with the devastation storms like Hurricane Sandy can leave behind and the physical attacks like the 2013 incident and the sub cap station in california. 2013 incident in the substation in california. Thankfully in the cases of storms and physical attacks, the sector has strong plans in place and the systems to restore the power quickly and to avoid the loss of life and property. I am concerned about a cyber attack. Are there similar plans in place for the industry and for the state and local government . Will tho...

Not as nuts as i thought. They have basic formulas and very ridged in their application of formula and they dont bend in treaty negotiations which i dont like. But it does seem you could go a long way with presumptive rules. That is the way the developing world is going. This brings me back to Tax Administration which is the elephant in the room. It doesnt matter what the rules are if you dont have anybody to enforce them. Seriously. And that is where we are heading. On that note, i think i will throw it to the floor. On the question of the business tax issues, and on the impact of foreign rul...

Im eric toter, codirector of the tax policy center, its an honor for me to be here honors don lubic one of the my mentors, heroes and an ideal to all of us on the panel, and many of us in the audience we have a great panel here. I will you have their full bios, i will introduce them briefly. Manuel koran is kpmg. She was previously a Deputy Assistant secretary for International Tax at the u. S. Treasury department, and during the Obama Administration and has done many other things before them. I wont go through them all. David rosenbloom is a visiting professor of tax ace and director of the I...