This should be uncontroversial. Money earned overseas gets taxed overseas.Apple is a prime example of a company that earns billion$ overseas - and declines to bring that money to the US ( in the form of, say, payments of dividends to shareholders, or investment in US plant and equipment) for the simple reason that it would get hammered with taxes again here. At the very least, if paid out in dividends, corporate income earned overseas should be taxed only to the shareholder. That would put big bucks into the US economy from abroad.
Of course, the same logic would make sense for money earned within the US. Cruz proposes to allow US corporations to “expense†capital investments - that is, to write them off in the year they are paid for, making them simply deductible instantly rather than over a period of time. Radically simpler, radically pro-growth. Especially good for high-tech.
I didn’t say I didn’t understand, I am not certain that it’s as simple as that blurb makes it sound.