Jared Bernstein and Chuck Marr Discuss a Tax Holiday for Overseas Corporate Profits
Congress is considering a temporary “repatriation tax holiday” that would allow corporations to bring their overseas profits back to the United States at a fraction of the normal corporate tax rate. Proponents claim that corporations would then invest these earnings in the United States, but the evidence shows that a tax holiday would fail to boost the economy while increasing deficits and encouraging companies to locate jobs and future investments overseas.
In this video, CBPP’s Jared Bernstein and Chuck Marr discuss the proposal and its likely harmful impact. Previously, Chuck Marr has written about the issue here, here, and here.