Marshall says that Clinton has talked a lot about the economy this month and will continue the discussion during her visit.
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If Congress does not end “earnings stripping”, in which companies move their earnings to foreign markets to claim lower tax rates while maximizing U.S. deductions, Clinton said she would direct the U.S. Treasury to end the loophole.
According to the New York Times, “Mrs. Clinton’s tax plan, details of which were unveiled by her campaign shortly before the town hall event, includes calling on Congress to require companies in the United States to control 50 percent of the combined entity in order to expatriate, compared with the 20 percent stake now required, and instituting an “exit tax” on the untaxed overseas earnings of companies that give up their residence in the United States”.
Conservatives expressed worry in October when Obama said that Clinton had made “a mistake” by using the private email address throughout her time at the State Department but that the behavior did not compromise official secrets. Experts say U.S. companies are hoarding roughly $2 trillion in profits overseas to reduce their taxes. “Inversions by Pfizer and other companies, plus related loopholes, will cost American taxpayers more than $80 billion in revenue over the next 10 years”.
SALEM, N.H. (AP) The latest piece of Hillary Clinton’s jobs agenda aims to boost American manufacturing jobs by offering tax incentives for new investment in communities suffering from factory closures and layoffs. That money, the campaign said, would go toward incentivizing companies to bring jobs back to the USA and toward supporting small businesses, manufacturing and research.
The Republican National Committee said the Clintons have personally profited from overseas tax havens, which makes Clinton’s proposal hypocritical. The U.S. company, though, becomes a subsidiary and saves on taxes.
In particular, the aide said, Clinton will call out Pfizer, which merged with Allergan earlier this year.
The Treasury Department, after a wave of inversion deals, announced new regulations in September 2014 targeting certain tax-avoidance deals.
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If Obama’s Justice Department fails to prosecute Clinton, the democratic front-runner may still face legal hurdles stopping her from reaching the White House.
