Trustee Election
These are the original issues in this subcategory
  • REPATRIATED CORPORATE PROFITS
  • OVERSEAS HEADQUARTERS
  • OFFSHORE BANK ACCOUNTS
Winning Issue » REPATRIATED CORPORATE PROFITS


Repatriation of capital is the return of capital from abroad to the country of its origin. To avoid paying taxes, and due to loopholes in our tax code, many American corporations do not deposit profits from overseas operations in U.S. banks. These loopholes include the no-tax rule on foreign profits if those profits remain overseas. Today, our largest corporations have at least $2 trillion of foreign profits sitting offshore. Many of these companies argue they would repatriate these earnings if this could be done without paying taxes. They advocate for a territorial taxation system in which companies would pay taxes on U.S. earnings but would be exempt from taxes on foreign income. They say this taxation system would make U.S. companies more globally competitive and encourage hiring and investment here. Opponents argue that all corporate income should be taxed equally. They further point to our need for additional tax revenue. They claim the territorial taxation system would provide an incentive for companies to move more of their operations overseas since those earnings, when repatriated, would be taxed at a lower rate than profits earned domestically.


Pending Legislation:
H.R.625 - Infrastructure 2.0 Act




Options


  • I oppose reforming current repatriated corporate profits policy and wish to defeat H.R.625 - Infrastructure 2.0 Act, and also wish to donate resources to the campaign committee of either Rep. Paul Ryan or Sen. Mitch McConnell
  • I support a plan for corporations to repatriate overseas profits under which existing overseas profits would be subject to a mandatory, one-time 8.75% tax, expected to yield $120 billion; sending enough of that to the Highway Trust Fund to cover the gap between anticipated gas tax in-take and spending at current levels plus modest growth, and wish to pass H.R.625 - Infrastructure 2.0 Act, and also wish to donate resources to either the campaign committees of Rep. Bill Shuster (PA) and/or Rep. John Delaney (MD), or to an advocate group currently working with this issue
  • I support the territorial taxation system and wish to identify a legislator who will sponsor a bill to tax only the domestic earnings of corporations, and also wish to donate resources to the campaign committee of Rep. Randy Hultgren (IL) or to an advocate group currently working with this issue


Winning Option
  • I support a plan for corporations to repatriate overseas profits under which existing overseas profits would be subject to a mandatory, one-time 8.75% tax, expected to yield $120 billion; sending enough of that to the Highway Trust Fund to cover the gap between anticipated gas tax in-take and spending at current levels plus modest growth, and wish to pass H.R.625 - Infrastructure 2.0 Act, and also wish to donate resources to either the campaign committees of Rep. Bill Shuster (PA) and/or Rep. John Delaney (MD), or to an advocate group currently working with this issue
There has been $0.00 pledged in support of this issue
Trustee Candidates

If elected as a trustee, the campaign committee of Rep. Bill Shuster (PA) will be unconditionally awarded the funds pledged to this issue along with a letter requesting him to favorably consider passing H.R.625 - Infrastructure 2.0 Act. If more than $1,000 has been pledged, the campaign committee of sponsor Rep. John Delaney (MD) will be unconditionally awarded 10% of these funds.

Legislation: H.R.625 - Infrastructure 2.0 Act
Sponsor: Rep. John Delaney, MD
Status (3): House Transportation and Infrastructure Committee
Chairman: Rep. Bill Shuster, PA
House Ways and Means Committee
Chairman: Rep. Paul Ryan, WI
House Rules Committee
Chairman: Rep. Pete Sessions, TX
Status (3): House Transportation and Infrastructure Committee
Chairman: Rep. Bill Shuster, PA
House Ways and Means Committee
Chairman: Rep. Paul Ryan, WI
House Rules Committee
Chairman: Rep. Pete Sessions, TX

If elected as a trustee, the Chamber will be awarded the funds pledged to this issue along with a letter requesting these funds be used to work and advocate for corporations to repatriate earnings held in foreign countries.

The U.S. Chamber of Commerce is the world’s largest business organization representing the interests of more than 3 million businesses of all sizes, sectors, and regions. Its members range from mom-and-pop shops and local chambers to leading industry associations and large corporations. The Chamber states they all share one thing in common, they count on it to be their voice in Washington, D.C. The U.S. Chamber of Commerce advances business interests through its nationally-recognized team of lobbyists and policy experts. Together, they help craft pro-business legislation and block excessive taxes and regulations. The Chamber has advocated for legislation that would allow companies to bring foreign profits into the U.S. at a 6% tax rate.
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Trustee Election - Opening Date
February 27, 2020
Trustee Election - Closing Date
March 4, 2020