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President Barack Obama already made a bid for increasing their overseas earnings tax of about 14 percent in order to boost infrastructure spending. Even if this means higher advantage for the country, this may not seem likewise on common grounds.
Obama desires companies to pay this tax on the estimated $2 trillion overseas earnings. This tax amendment would be included in his proposal on Monday that also involves altering tax codes on overseas profits and increasing budget for highways and transits. Significantly, economist Dough Holtz-Eakin sees this as a beginning for broader talks with lawmakers and may not be a result but triggers more questions.
