Tags: Obama | corporate | tax | repatriation

White House Throws Cold Water on Corporate Tax Repatriation Holiday

Wednesday, 18 June 2014 02:11 PM

President Barack Obama does not support the idea of a corporate tax repatriation "holiday" that some Republicans in Congress have said could help boost the coffers of the dwindling Highway Trust Fund, the White House said on Wednesday.

"The president does not support and has never supported a voluntary repatriation holiday because it would give large tax breaks to a very small number of companies that have most aggressively shifted profits, and in many cases, jobs, overseas," White House spokesman Jay Carney said.

A one-time holiday in 2004 saw 15 firms get more than 50 percent of tax breaks worth billions, Carney said.

© 2021 Thomson/Reuters. All rights reserved.


InvestingAnalysis
President Barack Obama does not support the idea of a corporate tax repatriation holiday that some Republicans in Congress have said could help boost the coffers of the dwindling Highway Trust Fund, the White House said on Wednesday.
Obama, corporate, tax, repatriation
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2014-11-18
Wednesday, 18 June 2014 02:11 PM
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