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updated: 11/3/2013 7:21 AM

Wal-Mart's Simon says tax reform would help U.S.

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Bloomberg News

Wal-Mart Stores Inc. U.S. Chief Executive Officer Bill Simon said that the U.S. should reform the corporate tax system to encourage companies to invest in the nation.

"There can't be an incentive not to bring your money back tot he U.S. or not to invest in the U.S. for American companies," Simon said today in an interview with Bloomberg Television in Washington. He added that current rates haven't deterred Wal-Mart from spending in the U.S.

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Wal-Mart, the nation's largest private employer, said earlier today that three of its suppliers would offer 385 new manufacturing-related jobs in the U.S. as part of its push to buy an additional $50 billion in domestically made products in the next 10 years. The vendors produce footwear, curtains and glassware.

Simon was in Washington for the SelectUSA 2013 Investment Summit, a gathering to promote investment that was held by the Department of Commerce.

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