Frank Aquila Authors Column on Repatriation of Overseas Profits

October 12, 2010
Download

The October 12 issue of Bloomberg Businessweek features a column by Mr. Aquila titled, “Time to Bring U.S. Corporate Profits Home.” In the column, Mr. Aquila discussed how U.S. tax policy makes it unlikely that American companies will repatriate the more than $1 trillion in profits generated by their overseas subsidiaries and highlights how the repatriation of those profits would be an enormous boon to the economy. “With an era of slow growth here and rapid expansion in China, India and Brazil, our tax policy needs to recognize that an increasing share of corporate profits will be earned outside the country,” he wrote. “U.S. tax policy should create incentives for companies to seek growth and expansion around the world, wherever and whenever those opportunities arise – the sooner, the better.”