GE one of China's top taxpayers

Rep. Frank Wolf, R-Va., observed on the House floor today that General Electric appears to be one of China’s top sources of corporate tax revenue while paying no taxes in the United States in a speech critiicing GE and President Obama, who tapped GE’s CEO as his jobs czar.

After alluding to a New York Times report that GE paid no U.S. taxes in 2010, Wolf said that “the Congressional Research Service found that the October 2008 issue of China Taxation magazine published top corporate tax payers in the commercial services sector. The Beijing subsidiary of GE was number 32.”