Re “Corporate tax rate may be lowered,” Business, Dec. 25
Republicans have agreed that loopholes should be closed for corporations. The most egregious loophole may be the one that in effect gives interest-free loans to U.S. corporations to invest overseas. I am referring to the loophole whereby they are excused from paying taxes until the money earned is “repatriated.”
If the president is willing to lower the rate to competitive levels, he should insist on changes to this tax break. This is unfair to American manufacturers and has been a motivation for shipping jobs overseas.
If the GOP believes the real problem is jobs, it should accept this instead of fighting to protect the loophole.