Quantcast
Return to AFP Website

Bills

Congressional Legislation Details

Title as Introduced:

Rep. Brady's Freedom to Invest Act

Bill Number:

H.R.1834

Description:

Allowing a temporary reduction in tax rates on repatriated foreign earnings to incentivize companies to reinvest up to $1 trillion in capital in the United States economy.

Bill Sponsor

Co-Sponsors:

Our Position:

We support this bill.
Dear Representative Brady,

On behalf of more than 1.7 million Americans for Prosperity (AFP) activists in all 50 states, I write to applaud your introduction of the Freedom to Invest Act, H.R. 1834. The bill reinstates temporarily reduced tax rates for companies repatriating earnings generated abroad. Such a policy has, in the past, encouraged a flood of reinvestment here in the United States. Today it is a much-needed plan to stimulate job creation and inject as much as a trillion dollars of capital into the American economy, funds that would otherwise remain locked out of the country.

Under current tax policy, companies that return foreign earnings to the U.S. must pay the difference between the foreign income tax and the U.S. corporate rate. But with the second-highest corporate tax rate in the world at 35 percent it’s no mystery why corporations allow their foreign earnings to sit in bank accounts overseas instead of reinvesting those earnings in the American economy. Recent estimates show that companies are holding well over a trillion dollars of accumulated earnings abroad. Easing this crushing corporate tax burden would provide strong incentives for American corporations to bring that money back to the United States instead of reinvesting it in jobs on foreign soil.

Click here to read the rest of AFP's letter of support!

Status:

Referred to the House Committee on Ways and Means.

Back

If you are only seeing this message, then your current filter is blocking our content. To see the content you must delete that filter. In Firefox, please Go to Tools >> Add-Ons >> Preferences (next to Adblock Plus) >> Filter Preferences. Select the filter list you want to delete, click on the "Action" button, and select "Delete". Click on "OK" to confirm. We are working to edit that filter, so that you will not have to do this in the future. Privacy Policy.