Microsoft Joins Oracle in Call for Low Offshore-Profits Tax
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Multinational companies including Microsoft Corp. and Oracle Corp. are urging Congress to make passing a measure to allow a tax break on their offshore profits a greater priority than a comprehensive tax-code overhaul.
The opportunity to boost the economy by encouraging repatriation of more than $1 trillion in earnings held by U.S. corporations overseas should, in the short run, trump the longer process of revamping the tax code, the WIN America Coalition said in a letter congressional leaders released today.