Sen. Baucus proposes overhaul of corporate-tax law

11/20/2013 | New York Times (tiered subscription model), The

Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, made public his proposal for an overhaul of the corporate-tax code that he said provides "a path forward on tax reform." Among the provisions is a temporary 20% tax on corporate earnings held outside the U.S. and a requirement that the tax be paid over eight years. That would produce an extra $200 billion in revenue for the Treasury.

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