The Hill: Sanders offers bill aimed at preventing corporate tax avoidance

A report from the liberal Institute on Taxation and Economic Policy released Thursday found that Fortune 500 companies that were profitable each year between 2008 and 2015 had an average effective tax rate of 21.2 percent.

Sanders’s bill would end the ability for corporations to defer paying U.S. taxes on their foreign earnings until the money is repatriated. Profits from U.S. companies that are currently held overseas would be taxed at a rate of 35 percent, and U.S. businesses would still be allowed to get tax credits for the taxes they pay to other countries. Read more