Obama Diverges With Camp Over Taxing Company Profits Overseas
January 31, 2012, Bloomberg/BusinessWeek
During his recent State of the Union address, President Obama proposed a tax on the overseas profits of US companies, a position that puts him at odds with other proposals in Congress, including one from House Ways and Means Committee Chairman Dave Camp that seeks to exempt 95 percent of companies' overseas earnings from taxation in the US.
"They're inconsistent concepts," said Linda Carlisle, a partner at White & Case LLP in Washington. Obama "does seem to be rejecting" Camp’s approach.