U.S. multinationals unhappy with overseas tax proposal

11/20/2013 | Quartz

U.S. companies with overseas operations are dismayed by the proposal from Senate Finance Committee Chairman Max Baucus, D-Mont., to replace multinationals' ability to defer taxes on overseas income with a global minimum tax rate. This tax break currently allows them to keep nearly $2 trillion in profits overseas. The political climate makes it unlikely that this legislation will move forward before spring 2014.

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