A Pro-Growth Idea, Finally

Ryan Ellis of Americans for Tax Reform passes this along about the idea to allow companies to repatriate foreign earnings:

Once again, Congress has the opportunity to use repatriation to inject much-needed and non-inflationary capital into the United States. According to Decision Economics, $545 billion is sitting overseas today, ready to be repatriated. If even half of that money was returned to this country, it would represent a one-time boost equivalent to 2 percent of GDP. Hundreds of billions of dollars would be available to lend, pay down debt, restructure, and (most importantly from a taxpayer perspective) avoid any potential government bailouts. Repatriation, though, should be the rule and not the exception. The United States is the only country in the world that tries to tax the worldwide income of its companies, and has set up complex deductions and credits as a result. A simple, territorial system similar to repatriation would be a pro-taxpayer and modern tax reform step.

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