US President Barack Obama has proposed reforms to US tax policy aimed at companies which avoid tax by shifting their operations overseas.
The move, which could have big implications for US multinationals based in Ireland, is an attempt to stop jobs being moved from the US to low tax economies elsewhere.
Mr Obama expects savings of $210bn could be made by squeezing offshore havens and US firms' ability to profit from outsourcing jobs.
To become law, the plan will have to be passed by both Houses of Congress.
Mr Obama said the move would create jobs in the US.
US Treasury Secretary Timothy Geithner said the US would end 'indefensible' tax breaks and loopholes that unfairly benefit some companies and well-off individuals.
'We believe in a level playing field. Unfortunately, we have a tax code that gives businesses that invest and create jobs overseas a competitive advantage over those who invest and create jobs at home,' he added.
The IDA has said it sees the US continuing to be the largest multinational investor in Ireland, despite proposals by President Barack Obama to reform US international tax policy.
IDA Chief Executive Barry O'Leary told RTÉ News the organisation is not overly concerned about any the proposals and expects it to have no major impact on the 500 US multinationals doing business in Ireland.
