Fund Transportation by Taxing Business Income Kept in Foreign Lands

Trying to find a solution for transportation funding, bipartisan U.S. Senators seek to tax foreign assets.

“Sen. Charles Schumer (D., N.Y.) and Rob Portman (R., Ohio), co-chairmen of a Senate Finance Committee working group on overhauling the international tax system, would impose a one-time tax on profits that multinational companies have stashed overseas at a rate lower than the current 35% U.S. corporate tax rate, according to a summary of its major provisions.”

WallStreet Journal