June 2, 2020

.ITEP Staff

June 2, 2020

By Matthew Gardner and Steve Wamhoff

The Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore. Now the Trump administration and some lawmakers who supported the 2017 law say they are concerned about companies moving jobs offshore, particularly to China, and call for additional tax breaks to lure them back.

New tax cuts to incentivize bringing jobs back to the United States will fail. No new tax provisions can be more generous than the zero percent rate the 2017 law provides for many offshore profits or the loopholes that

Read More At Article Source | Article Attribution