Section 965: Comparison of Recent Proposals
Members of both the U.S. House and Senate have proposed legislation in recent years that would provide a temporarily reduced tax rate for corporate earnings repatriated from overseas. The comparison of these proposals is divided into two sets, the first of which may be viewed, for various reasons, as more robust (for example, the Blue Dog Coalition announced its official endorsement of H.R. 1834 on October 12, 2011).
The comparison does not address the draft “Tax Reform Act of 2011” (released October 26, 2011, by Ways & Means Chairman Dave Camp), which, in addition to including repatriation measures, would reduce the top corporate tax rate to 25% and dramatically rewrite the rules for taxing the foreign income of U.S.multinationals. For a discussion of the Camp proposal, visit the Deloitte Legislative Resource Center site.
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