Bloomberg BNA: Taxes Lost to Offshore Profits Rise to $752B in 2016

The report, released Oct. 17 by the left-leaning U.S. Public Interest Research Group Education Fund and the Institute on Taxation and Economic Policy, “undermines the case for any tax proposal that would allow companies to repatriate their U.S. profits at a special low tax rate,” according to a news release.

In addition to a lower 20 percent corporate tax rate, the recent Republican tax framework proposes a two-tiered, one-time repatriation tax, under which U.S. corporations would automatically be considered, or “deemed,” to have brought back their offshore earnings over an unspecified period of time. The framework leaves many questions unanswered, including what the lower repatriation rate would be. Read more