US Companies Lobby for Tax Break Holiday
Some of the U.S.’s largest corporations–including Apple, Google and Microsoft–have a lot of their profits saved in low-tax countries overseas. Some of these companies are lobbying Congress and the Obama administration for a tax break. In a move these companies say would function as a stimulus to the economy, they are proposing a repatriation holiday, in which their profits could be returned home with a much smaller tax penalty than they would normally incur. David Kocieniewski, tax reporter for our partner The New York Times, speaks with us about which companies are lobbying, and how measures like this have fared in past years.
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