Overhauling the corporate tax code to give U.S. multinational companies a boost on the world stage could be done in combination with a "new, significant investment in infrastructure," Gene Sperling, an advisor to the Hillary Clinton campaign, said Tuesday.
"In some ways, we have the worst of all worlds. We have some companies that are not as competitive and we have other companies that are manipulating the tax code to pay virtually nothing," he told CNBC's "Squawk Box."
"I think we need something where everybody pays their share," he said, "something that makes clear to people while we're bringing down ... the corporate tax rate … we're cutting out loopholes and cutting out tax evasion."
Both Democrats and Republicans often cite corporate tax reform as a top priority, but disagree on the execution. Republicans want at least a revenue-neutral approach, while Democrats generally seek new revenue in exchange.