House Republicans are pushing to include a temporary tax holiday on offshore corporate profits in a year-end legislative package that also would contain an extension of the payroll tax cut.
House leaders have been "very encouraging" and are "taking a serious look at including it in a year-end package," Representative Kevin Brady, a Texas Republican, said in a telephone press conference today.
Brady is a sponsor of legislation that would create a temporary tax holiday, allowing U.S. multinational corporations to bring home offshore earnings at a 5.25 percent tax rate, an 85 percent discount from the 35 percent top corporate rate.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
