By Kevin McCauley
The Win America Campaign has enlisted Republican shop Fierce, Isakowitz & Blalock to press for the “repatriation” of the estimated $1 trillion of overseas corporate earnings.
WAC believes companies “park” earnings overseas to avoid paying the 35 percent U.S. tax rate.
The campaign supports the Freedom to Invest Act that provides a preferential tax rate on funds shifted from overseas to the U.S. to promote job creation. The measure penalizes companies that reduce average employment during the two years following repatriation.
A similar repatriation bill in 2004 resulted in a $312B private capital inflow to the U.S.
WAC supporters include Apple, Pfizer, U.S. Chamber of Commerce, Kodak, Duke Energy, Loews Corp., Brown-Forman and Microsoft.
FI&B’s Aleix Jarvis, former legislative director to Sen. Lindsey Graham, and Billy Piper, special assistant to Senate Minority Leader Mitch McConnell, handle the WAC push.