White House Correspondent, Washington, DC
Jeff's Feed
Feb 1, 2015
Feb 1, 2015

Obama targets foreign profits with tax proposal, Republicans skeptical

WASHINGTON (Reuters) – President Barack Obama’s fiscal 2016 budget will seek new taxes on trillions of dollars in profits accumulated overseas by U.S. companies, and a new approach to taxing foreign profits in the future, but Republicans were skeptical of the plan on Sunday.

Reviving a long-running debate about corporate tax avoidance, Obama will target a loophole that lets companies pay no tax on earnings held abroad, the White House said. But his proposal was certain to encounter stiff resistance from Republicans.

Feb 1, 2015

Obama proposes 14 percent tax on U.S. companies’ untaxed foreign earnings

WASHINGTON (Reuters) – President Barack Obama’s fiscal 2016 budget would impose a one-time 14 percent tax on some $2 trillion of accumulated U.S. corporate profits earned abroad and set up a 19 percent tax on future foreign earnings, a White House official said on Sunday.

Revenues from the one-time tax be used to fund infrastructure projects and fill a projected shortfall in the Highway Trust Fund.

Feb 1, 2015

Obama proposes 14 pct tax on US companies’ untaxed foreign earnings

WASHINGTON, Feb 1 (Reuters) – President Barack Obama’s
fiscal 2016 budget would impose a one-time 14 percent tax on
some $2 trillion of accumulated U.S. corporate profits earned
abroad and set up a 19 percent tax on future foreign earnings, a
White House official said on Sunday.

Revenues from the one-time tax be used to fund
infrastructure projects and fill a projected shortfall in the
Highway Trust Fund.

Jan 30, 2015
Jan 30, 2015
Jan 29, 2015
Jan 29, 2015
Jan 29, 2015

Obama budget seeks boost for military, domestic programs

WASHINGTON (Reuters) – President Barack Obama will call for a 7 percent rise in U.S. domestic and military spending in his budget that would end caps known as ‘sequestration,’ the White House said on Thursday, setting up a new source of conflict with Republicans in Congress.

Obama intends to announce his budget plans during a meeting with congressional Democrats in Philadelphia later in the day.

Jan 27, 2015
    • About Jeff

      "Jeff Mason covers the White House for Reuters. He was the lead correspondent for President Barack Obama's 2012 campaign and has been posted in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain, traveling with all three candidates. Jeff has also been posted in Frankfurt, Germany, where he covered the airline industry and Brussels, Belgium, where he covered climate change and the European Union. He has appeared on MSNBC, CNN, BBC, and NPR. Jeff is a graduate of Northwestern University and a former Fulbright scholar."
      Joined Reuters:
      2000
      Languages:
      English, French, German, Spanish
    • More from Jeff

    • Follow Jeff