The article discusses how international tax reform is becoming more important due to the rise of multinational corporations. Efforts to combat corporate tax evasion are happening globally, not just in the U.S. Organizations like the OECD and the European Commission are working on projects to address these issues. Changes in global corporate tax laws will impact U.S. companies, even if the U.S. doesn't reform its own laws. The essay argues that any corporate tax reform should consider the global efforts already in place, rather than acting alone.