Fight Brewing Over U.s. Offshore Profit Taxation

By Kevin Drawbaugh WASHINGTON (Reuters) - Large U.S. corporations are pressuring Congress and the White House to exempt overseas corporate profits from taxes, a policy shift that critics say would hurt the economy and increase the federal deficit. A fight is shaping up between supporters of territorial taxation, as this policy proposal is known, and opponents who favor a different reform -- repealing a tax law that allows corporations to defer paying taxes on their overseas income. Read More...

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