Evil Corporate Tax Holiday Deal Still Alive

[abelenkpe]

Evil Corporate Tax Holiday Deal Still Alive

http://www.rollingstone.com/politics/blogs/taibblog/evil-corporate-tax-holiday-deal-still-alive-20110804

Just a quick update on the corporate tax holiday situation …

There was some talk that a corporate tax holiday might be rolled up somehow into the debt-ceiling deal. I heard that from a few quarters in DC in the weeks leading up to Obama’s Bighornesque debt/supercommittee massacre.

However, the tax holiday turned out to not be part of that deal. That does not mean, however, that the proposal is dead. In fact, calling around in the last few days, I’m hearing that it is very much alive.

The action revolves around a bill sponsored in May by Texas Republican Kevin Brady (and co-sponsored by Utah Democrat Jim Matheson) called the Freedom To Invest Act, which would “temporarily” lower the effective corporate tax rate to 5.25 percent for all profits being repatriated.

(more at link)

----------------------------------------------------------------------------------------------------------
Yeah, what???!

[Ruby the Liberal]

1. Well, they may forget the lessons of 1937, but 2004 was only 7 years ago

Unbelievable.

These freaks took their breaks, didn't hire and then after it expired, moved back overseas and laid off 100s of thousands. It was a lose/lose.

Cisco was one of the biggest offenders.