Republicans Usually Opposed to Obama See Promise in Tax Plan
An employee arranges copies of U.S. President Barack Obama's Fiscal Year 2016 Budget on display at the U.S. Government Publishing Office (GPO) in Washington, D.C. on Feb. 2, 2015.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Republican lawmakers are doing something surprising with President Barack Obama’s proposal to tax U.S. companies’ overseas profits. They’re calling it constructive.
Top members of the committees focused on taxes in Congress say they see Obama’s latest plan as a place to start negotiations toward a revamped business tax system that would lower rates, remove breaks and make it easier for companies to bring home their foreign profits.