Monday, February 09, 2009

Limits on Lobbying for Overseas Tax Breaks

Senators Carl Levin (D-MI) and Bryan Dorgan (D-ND) have criticized the 2004 tax break for repatriating overseas earnings and even called for restricting supporters from lobbying for the bill. Levin said that claims that the break encourages companies to reinvest in the US are belied by evidence that many companies taking the incentive actually cut US employment. Dorgan agreed, calling the 2004 law a reward for outsourcing US jobs. A Congressional study showed that 10 of the top 12 companies cut jobs even before the recent recesssion.

Two separate opinions: the call to curb lobbying for the bill smacks of restricting free speech and is not good; the call to eliminate the repatriation incentive smacks of reducing corporate welfare and I agree with Levin and Dorgan on that issue.


Blogger Bloodworth Student said...

Wonder who is the audience this website's articles are intended for.

With one paragraph about a bill passed in 2004.
The next paragraph about COSO's guidework for monitoring
The final entry discusses "Making sausage" and it being #47.


2:02 AM  

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