Sen. Rand Paul, R-Ky., and Senate Majority Leader Harry Reid, D-Nev., are working together on a plan for a partial corporate tax holiday.

The holiday would be for U.S. companies repatriating overseas profits. U.S. corporations currently have approximately $2.1 trillion of cash parked overseas. Bringing that money back would subject companies to taxes of up to 35 percent.

While details are still being worked out, the rate would stand below 10 percent in the Senators' plan, Paul tells CNBC.

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The plan would allocate the revenue to transportation projects such as building roads and bridges. It is estimated that the program could result in $60 billion of revenue for Uncle Sam during the next three years.

"I think this is a win-win situation. Lower tax and bring in more revenue," Paul argues.

Negotiations on the plan are now being stifled by the "traditional Washington mentality" of either completing a comprehensive tax reform bill or nothing at all, he notes.

"For the four years I've been here, we've gotten nothing. I say . . . do something that Republicans and Democrats both like: lower a tax, bring in more revenue and build more roads."

Meanwhile, "International Monetary Fund data show that while personal taxes have risen in most large advanced and emerging economies since 2010, corporate rates have moved in the opposite direction," Luca Paolini, chief strategist at Pictet Asset Management, writes in the Financial Times.

But the disparity might not last, Paolini says. "Leading calls for business tax reform has been the OECD [Organization of Economic Cooperation and Development]. With the backing of the G-20, it has set out detailed proposals to stem tax avoidance."

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