Obama Pitches Budget to Tax Offshore Profits to Fix U.S. Roads

According to a White House document, President Barack Obama will revive his pitch to revamp business taxes in his budget vision on Monday — including a mandatory 14 percent tax on corporate profits now stashed abroad — to fix roads, bridges and other infrastructure. According to a summary of the plan, Obama will propose tapping taxes on the $2 trillion in profits sitting outside the U.S. to “to make critical new investments in our roads, bridges, transit systems and freight networks as part of a $478 billion, six-year surface transportation reauthorization." http://politi.co/1AhayiD http://bit.ly/1fJ5yqZ