Former Union Leader Says Obama Ultimately May Ease Tax Rule

Andy Stern, former head of the fastest-growing U.S. labor union and a close ally of President Barack Obama, predicted the White House will drop its opposition to the easing of tax rules to encourage companies with overseas profits to return the cash to the U.S.

In the same way that Obama switched positions to support the extension of President George W. Bush’s tax cuts, Obama will accept repatriation legislation “when it’s time,” Stern, the former president of the 2.2 million member Service Employees International Union, said in an interview with Bloomberg Television’s “Conversations with Judy Woodruff,” to be broadcast this weekend. “This is where Washington makes decisions.”