The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Republicans and business groups were joined by two relatively liberal House Democrats today in calling for a special low tax rate to encourage companies to bring foreign profits home, something they tend to avoid unless incentivized otherwise, as they were by the Bush administration in 2004.

Corporations with as much as $1 trillion in profits parked overseas should be allowed to bring that money to the U.S. without spending the repatriated funds on job creation, several House Democrats said.

The comments from Democratic Representatives Loretta Sanchez of California and Jared Polis of Colorado could provide new support to a campaign for a repatriation holiday backed by companies including Google Inc. (GOOG), Cisco Systems Inc. (CSCO) and Brown- Forman Corp. House Majority Leader Eric Cantor, a Virginia Republican, has said Congress should pass repatriation legislation before tackling a broader overhaul of the tax code.

The move is opposed by Dem Congressional leaders and the White House, and seems more likely to resemble a job-creation project rather than actually become one. Results last time around were disappointing; ThinkProgress offers a useful summary of the extent to which fresh capital seemed to go only to executive compensation and stocks, not hiring. [Bloomberg] [Think Progress]

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Michael Flynn

Former Trump administration National Security Adviser Michael Flynn has made more than his fair share of disturbing, jaw-dropping remarks-- like telling the former guy he should impose martial law to hold a new election or suggesting a Myanmar-like coup at a QAnon conference in May. But he seemed to reach a new low when he joked about using a newly gifted assault rifle to carry out an assassination in the nation's capital.

"We were trying to come up with a rifle that we thought was appropriate for a general, so we went with an old-school Woodland camouflage...one of our top-quality guns," said Jason Parker, a gun company employee who gifted the weapon to Flynn.

Keep reading... Show less

Sean Hannity

Photo by Andrea Austria / Media Matters

Reprinted with permission from Media Matters

Fox News host Sean Hannity disclosed during his radio show on Friday that he had made peace with a fellow right-wing radio host whose content mill had warned that Hannity's "feverish support of the vaccine" against the novel coronavirus betrayed his conservative audience.

Keep reading... Show less
x

Close