Camp Signals Support for 15% Foreign Patent Income Rate: Taxes

For companies with a lot of foreign income from intangible products like patents, Dave Camp has a carrot-and-stick approach to overhauling the tax code.

Camp, the top Republican tax writer in the U.S. House of Representatives, says putting a rate of 15 percent on all foreign income from intellectual property rights and intangibles would limit revenue erosion when Congress pursues broad tax reform, Bloomberg BNA reported.