CNN Money: Offshore Corporate Cash Piles at Risk from Obama Tax Plan

Meanwhile, Matt Gardner, executive director at the Institute on Taxation and Economic Policy, says the proposed tax rates are too low.

“It’s helpful that the [U.S.] administration has identified a way to tax the profits that multinationals are stashing offshore. This is an important part of tax reform. But I think these rates are too low,” he said.

“This is a starting point for a conversation” about corporate taxation reform, he said.

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