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Stimulus plan's tax cut for foreign corporate earnings could inject $545 billion into U.S. economy

Here's one tax cut/credit that Democrats and Republicans apparently agree on. Or, in Washingtonspeak, 'left has met right, so let's get this bill out the door.'

It appears the U.S. Senate is posed to add a provision to reduce taxes, at least temporarily, on corporate profits earned abroad. The Washington Post reported Thursday that further Senatorial changes could follow, and the Senate stimulus bill would have to be reconciled via a conference committee with a House version passed Wednesday, but the current Senate proposal would dramatically reduce taxes, from 35% to 5.25%, on foreign corporate profits repatriated to the United States.

Continue reading Stimulus plan's tax cut for foreign corporate earnings could inject $545 billion into U.S. economy

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Last updated: May 25, 2012: 05:01 PM

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