“repatriation of offshore earnings”
Yeah, have they given up on that? Seems it would be in this bill. Maybe it will come in the Senate version.
I don’t know if they’ve left it out yet or if the article just didn’t mention it. I can add some insight though.
In speaking to clients and to my own Executive Management here, it would have to be a DEEP DEEP cut in the rate - say to 5% or thereabouts or have NO TAX at all. Simply reducing it to say 15 or 20% isn’t enough incentive to bring the money back. I’ve been told many times “Why bother?”. It’s got to be deep, or companies will just leave it where it is. ESPECIALLY, if they don’t “need” the money here. And there are legal ways to borrow money from overseas subsidiaries without triggering tax. So again, it must be a deep, deep cut.