repatriation tax holiday

How Will Congress Fund Roads and Transit?

In 24 days, federal spending authority under the highway trust fund comes to an end. Without legislation to keep the program going and money to finance it, road projects will slow in the midst of high construction season. And where are Congress and the White House on this perennial issue? Nowhere.

July 7, 2015Howard Gleckman

: TaxVox

Spending Caps? What Spending Caps?

Up next week: The President’s Budget. President Obama will release his budget for fiscal year 2016 on Monday. The plan would increase spending above the sequester limits of the Budget Control Act of 2011. Steep cuts were triggered in 2013 when Congress failed to reach a budget deal, but were then

January 30, 2015Renu Zaretsky

: TaxVox

No Congressional Approval of a Spending Deal Yet, But Plenty of Commotion

In the spending bill, inversion curbs could be curbed. The bill to fund the government through September 2015, scheduled for a House vote today and a Senate vote after that, waters down Democratic-supported curbs on corporate inversions. The Ds would have barred companies that move their tax

December 11, 2014Renu Zaretsky

Individual Taxes: TaxVox

A Repatriation Tax Holiday for US Multinationals? Four Contagious Illusions

U.S.-based multinationals hold $2.1 trillion in foreign cash and insist that the only way they can feasibly bring that money back home is if Congress grants them a tax holiday—an idea that even President Obama now appears to support. But the argument they (and the President) are making for a

December 10, 2014Chris Sanchirico

: TaxVox

Revenues, ‘Rithmetic, and the Power of Magical Thinking

What’s a nation to do with as-yet-untaxed US multinational corporate income? The Center on Budget and Policy Priorities analyzes what a repatriation tax holiday might mean for the US economy. In short: it wouldn’t help. The Business Roundtable , a group of corporate chief executives, doesn’t want

June 20, 2014Renu Zaretsky

: TaxVox

On Losses, Savings… and a Whole Lotta Smokin’

With a surprise loss, a short-term highway fix seems more likely. The House Republican leadership is in turmoil following the surprising primary defeat of GOP leader Eric Cantor, making it even less likely that Congress will agree on a long-term solution for the dwindling Highway Trust Fund .

June 12, 2014Renu Zaretsky

Individual Taxes: TaxVox

Did Multinationals Use a Foreign Earnings Tax Holiday To Burnish Their Financials Rather Than Reduce Taxes?

We've known for years that the 2004 repatriation tax holiday did little to boost domestic investment or create U.S. jobs, as promised by its backers. Now we are learning that many multinational corporations were not even interested in using the temporary holiday to cut their taxes. Instead,

June 11, 2014Howard Gleckman

: Daily Deduction

Repatriation, Havens, and Tax Reform Abroad

A repatriation tax holiday? It’s expensive. The Joint Committee on Taxation estimates that such a holiday would cost $95.8 billion in revenue over the next decade, though it would bring in about $19.6 billion over the first two years. Some lawmakers raised the idea of temporarily reducing US

June 10, 2014Renu Zaretsky