GOP TAX REFORM: EXEMPT ALL FOREIGN EARNINGS FROM TAXATION. Hatch has laid out basic principles for reform. At the conference, he said he has the impression that Democratic President Barack Obama might be willing to do a deal on business tax reform alone, setting aside individual income tax issues. We need to lower corporate tax rates and transition toward a territorial tax system, Hatch said. A territorial system is one that would exempt all or most of the foreign profits of U.S. corporations from the corporate income tax.
Posted on: Sat, 24 Jan 2015 01:10:08 +0000
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