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In new budget, Obama proposing 14 percent tax on overseas profits to fund infrastructure projects | Fox News

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President Obama will on Monday give Congress his $4 trillion spending plan for fiscal 2016 that includes a request for billions of dollars in much-needed public works projects — an idea that has bipartisan support but little backing for the proposed tax increases to fund such efforts.

Obama will propose a six-year, $478 billion public-works program for highway, bridge and transit upgrades, with half of it to be financed with a one-time, 14 percent tax on U.S. companies’ overseas profits.

via In new budget, Obama proposing 14 percent tax on overseas profits to fund infrastructure projects | Fox News.

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Written by voiceoftruthusa

February 2, 2015 at 5:11 pm

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