President Barack Obama on Monday unveiled a fiscal 2016 budget blueprint that proposed to tax the $2 trillion in earnings held by American companies offshore as part of a set of revenue changes that would generally increase taxes on the wealthy and lower them for the middle class.
His budget plan includes:
• A one time 14 Percent Tax would on Foreign Profits.
· This is acts estimated to raise $268 billion to help pay for a $478 billion, six-year re-authorization of the Highway Trust Fund. Read more