Add one more name to the list of powerful private sector interests prodding Congress to act on repatriation: NASDAQ. Bob Greifeld, the CEO of the exchange, told POLITICO on Wednesday that Congress and President Barack Obama need to enact a tax holiday for an estimated $1.2 trillion parked overseas, rather…
Now that Congress is back in session, President Obama is planning to ask lawmakers to approve tax policy changes to “reward companies that choose to do the right thing by bringing jobs home and investing in America.” It is certainly wise to develop a tax system that keeps the United States competitive in…
Today’s political debates inevitably seem to pit government and business on opposing sides, and interest groups and politicians frame policy choices in binary terms: pro-growth vs. corporate exces! s. One of us leads one of the largest companies in Silicon Valley, and the other represents the Valley in Congress as…
A majority of the large House Republican freshman class is pressing their leaders to get a corporate tax holiday passed by the end of the year. With Congress scrambling to deal with the payroll tax cut, government spending bills and unemployment benefits, among other things, 52 Republican freshmen are suggesting…
Advocates from both sides of the political spectrum called on lawmakers to enact a corporate tax holiday over the next month, saying election-year politics could hamstring the policy’s chances in 2012. Douglas Holtz-Eakin, head of the conservative American Action Forum, and Andy Stern, a former top union official, said they…
Pressure is building on lawmakers to find a legislative vehicle to hitch repatriation to before the end of the year, as the tech industry plans a full-court press in the final weeks before Congress breaks for the holiday season. Supporters of a tax holiday on more than $1 trillion in…
Thirty pro-business groups are urging lawmakers to enact a corporate tax holiday by year’s end. Grover Norquist’s Americans for Tax Reform, the Club for Growth and the U.S. Chamber of Commerce said in a Tuesday letter that a tax holiday would both spark economic growth and serve as a bridge…
CEOs seeking a tax holiday on their overseas earnings are sending a not-so-subtle message to Congress and the White House: We can spend the money here in the U.S. or we can spend it over there. In a letter to be released later on Wednesday, the CEOs write that “the…
It is now estimated that American companies hold trillions of dollars in cash or cash equivalents in foreign countries. One would naturally assume they would like to bring this money home, as many of these companies are carrying large amounts of debt on their U.S. balance sheets. Their cash is…
The Republican Study Committee threw its weight behind repatriation Wednesday. As part of its newly released jobs plan, the 175-member policy committee of conservative House Republicans endorsed a bipartisan tax holiday bill by Reps. Kevin Brady (R-Texas) and Jim Matheson (D-Utah). It would temporarily slash to 5.25 percent the tax…
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