Reid's Jobs Bill Includes Tax-Evasion Provisions
FEBRUARY 12, 2010
By MARTIN VAUGHAN And HENRY J. PULIZZI
WSJ
WASHINGTON—Senate Majority Leader Harry Reid intends to use measures cracking down on offshore-tax evasion to pay for the cost of a $15 billion stimulus bill he wants to push through the Senate this month.
The tax-enforcement provisions are the main offset for Mr. Reid's jobs-creation bill, according to text of the legislation introduced Thursday.
The White House said Friday Mr. Reid's plan should generate bipartisan support, but added that the measure will be one of many pieces of legislation targeted at job creation.
Also helping to pay for Mr. Reid's bill is a two-year delay of provisions that help U.S. multinationals lower their tax bills by relaxing interest allocation rules. That step would take effect in 2020 instead of 2018, under Mr. Reid's bill.
(Continued here.)
By MARTIN VAUGHAN And HENRY J. PULIZZI
WSJ
WASHINGTON—Senate Majority Leader Harry Reid intends to use measures cracking down on offshore-tax evasion to pay for the cost of a $15 billion stimulus bill he wants to push through the Senate this month.
The tax-enforcement provisions are the main offset for Mr. Reid's jobs-creation bill, according to text of the legislation introduced Thursday.
The White House said Friday Mr. Reid's plan should generate bipartisan support, but added that the measure will be one of many pieces of legislation targeted at job creation.
Also helping to pay for Mr. Reid's bill is a two-year delay of provisions that help U.S. multinationals lower their tax bills by relaxing interest allocation rules. That step would take effect in 2020 instead of 2018, under Mr. Reid's bill.
(Continued here.)
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