The Hill’s Jay Heflin has a timely report with good background this morning, “Business leaders press administration for repeat on tax break“:
U.S. business groups are trying to convince the Obama administration to embrace a tax break that would allow multinationals to return money earned abroad to the U.S.
The National Association of Manufacturers and other groups argue allowing companies to “repatriate” money earned abroad to the U.S. at a lower tax rate could spur the economy by providing businesses with a burst of cash they could invest in their companies.
“The business community is looking at ways to jumpstart the economic recovery and here is one you could do without increasing the deficit,” Dorothy Coleman, vice president of tax and domestic economic policy for the manufacturers.
- Frank Aquila, Bloomberg, Oct. 13, “Time to Bring U.S. Corporate Profits Home“
- Larry Kudlow, RealClearMarkets, Oct. 6, “The Economy Could Explode On the Upside“
- John D. McKinnon, Wall Street Journal blog, Oct. 1, “Business Interests Quietly Push for Tax Change“
- Politico, Sept. 30, “Tech CEOs: Lower foreign profit taxes“
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