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Showing results for tags 'estimated at $ 3.99 trillion'.
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Obama proposes tax of 19% on foreign profits 01-02-2015 11:10 AM Free - Will include President Barack Obama's proposals on the US budget tax to a minimum of 19 percent on subsequent foreign earnings for companies based in the US-based, and the tax rate of 14 percent on foreign profits accumulated, according to what she said 'Bloomberg News', citing two people familiar with the Budget, Sunday. She said 'Bloomberg' that the planned part of the budget plan taxes is estimated at $ 3.99 trillion will be applied Monday, aims to help the middle class and the American poor to increase taxes on the rich. She said that the new proposals will be part of a bid for greater reform of the US tax code and reduce the average The current businesses of 35 percent, despite the fact that a small number of companies is to pay the higher rate. But Obama and the Republicans who now control Congress disagree about the size of the reduction of the tax rate, and on the tax exemptions that should be eliminated or reduced to compensate for the lost revenue. He said one of the two people who quotes them 'Bloomberg' the report said Obama wants to use the new revenue to finance infrastructure projects, and that these two items, in addition to the extension of certain laws, for which is expected to end, would provide $ 565 billion over ten years.