Levin Report Finds Offshore Tax Break Is a Failed Tax Policy Whose Repeat Could Damage the Economy
News release: “Sen. Carl Levin, D-Mich., chairman of the Senate Permanent Subcommittee on Investigations, released a report today, Repatriating Offshore Funds: 2004 Tax Windfall for Select Multinationals, that found that the 2004 repatriation tax break that allowed U.S. companies to bring $312 billion in offshore earnings back to the United States at an extraordinarily low …