{"id":11323,"date":"2016-10-06T09:55:00","date_gmt":"2016-10-06T06:55:00","guid":{"rendered":"http:\/\/bestinsurance.gr\/a1\/?p=11323"},"modified":"2016-10-06T08:52:20","modified_gmt":"2016-10-06T05:52:20","slug":"this-plan-brings-2-5-trillion-in-corporate-cash-home-and-creates-jobs","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/11323","title":{"rendered":"This plan brings $2.5 trillion in corporate cash home, and creates jobs"},"content":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F11323\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"11323\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F11323&text=This+plan+brings+%242.5+trillion+in+corporate+cash+home%2C+and+creates+jobs\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"11323\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>This plan brings $2.5 trillion in corporate cash home, and creates jobs.<span style=\"color: rgb(47, 47, 47); background-color: rgb(255, 255, 255); font-family: &quot;Gotham Narrow SSm 4r&quot;; font-size: 18.4px;\">U.S. companies are parking trillions in cash overseas, with little progress from policymakers trying to bring all that money home.<\/span><\/p>\n<p class=\"group-container \" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-bottom: 20px; clear: both; color: rgb(76, 71, 68); font-family: &quot;Gotham Narrow SSm 4r&quot;; font-size: 18.4px; background-color: rgb(255, 255, 255);\">\n<p class=\"group\" itemprop=\"articleBody\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2);\">\n<p id=\"inline_movable_ad\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); text-align: center; margin-bottom: 20px;\">\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">Now, a new proposal aims not only to bring that money back to domestic shores, but also to give job creation a nudge \u2014 307,000 in two years, if the most optimistic projections come true.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">S&amp;P Global entered the conversation Wednesday, putting forth a plan that would pull home what&nbsp;<a href=\"http:\/\/www.cnbc.com\/id\/103953766?view=story&amp;$DEVICE$=native-android-mobile\" target=\"_blank\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); letter-spacing: 0px; color: rgb(32, 119, 182); outline: none;\">some estimates have pegged at $2.5 trillion<\/a>&nbsp;in U.S. corporate cash stored abroad. That&#8217;s on top of the $1.9 trillion stockpiled domestically.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px; line-height: 29.44px; color: rgb(47, 47, 47);\">CEOs are locked in a stalemate with Washington lawmakers over what tax rate the money should carry if it is brought to the country with the&nbsp;<a href=\"http:\/\/www.cnbc.com\/id\/103957063?view=story&amp;$DEVICE$=native-android-mobile\" target=\"_blank\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); letter-spacing: 0px; color: rgb(32, 119, 182); outline: none;\">highest nominal corporate levy in the developed world<\/a>.<\/p>\n<p class=\"group-container \" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-bottom: 20px; clear: both; color: rgb(76, 71, 68); font-family: &quot;Gotham Narrow SSm 4r&quot;; font-size: 18.4px; background-color: rgb(255, 255, 255);\">\n<p class=\"flex_chart embed-container storyChart\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 20px; margin-left: 0px; width: 330px; overflow: hidden;\">\n<p class=\"chartImage\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2);\"><img decoding=\"async\" src=\"http:\/\/fm.cnbc.com\/applications\/cnbc.com\/resources\/files\/2016\/10\/05\/1005%20taxes.png\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); width: 330px;\"><\/p>\n<p class=\"group\" itemprop=\"articleBody\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2);\">\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px; line-height: 29.44px; color: rgb(47, 47, 47);\">S&amp;P proposes a simple solution \u2014 no taxes at all, at least for a limited time, and as long as certain conditions are met.&nbsp;<br style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2);\"><\/p>\n<p class=\"group-container last\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-bottom: 20px; clear: both; color: rgb(76, 71, 68); font-family: &quot;Gotham Narrow SSm 4r&quot;; font-size: 18.4px; background-color: rgb(255, 255, 255);\">\n<h4 class=\"subtitle\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); color: rgb(66, 72, 88); margin: 0px 0px 20px; font-weight: normal; font-family: &quot;Gotham Narrow SSm 5r&quot;; font-size: 22px; line-height: 26px;\">How it would work<\/h4>\n<p class=\"group\" itemprop=\"articleBody\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2);\">\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">The plan would require companies to commit 15 percent of the repatriated cash to infrastructure projects that the ratings agency believes would pump $189.5 billion into the $18.4 trillion U.S. economy, assuming a multiplier effect of $1.30 per each dollar invested. The number of new jobs is equivalent to about a month and a half&#8217;s worth of job creation at the current pace.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">&#8220;We see infrastructure as the grease that keeps the economy moving along,&#8221; Beth Ann Bovino, chief economist at S&amp;P Global Ratings and a co-author of the plan, said in an interview. &#8220;That&#8217;s why we&#8217;re looking at it as an investment and not a cost.&#8221;<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">The plan would involve what likely would be a 12-month holiday to bring the cash home without penalty. Companies then would be required to use 15 percent of the cash on their balance sheets to buy government infrastructure bonds, generally considered a safe investment.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">Projects would be varied, from fixing roads and bridges to improving technology, increasing broadband service and enhancing the electrical grid.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">A primary reason for attaching conditions is that previous repatriation holidays did little to boost the real economy. In 2004, companies brought back some $362 billion from overseas but used it primarily to reward investors through stock repurchases, dividends, and mergers and acquisitions.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">Under this plan, companies wanting to avoid the 35 percent U.S. corporate tax rate would have to comply with conditions or face full taxation.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">Bovino is unsure what chance this type of plan has of getting any traction in Congress. President&nbsp;<a href=\"http:\/\/www.cnbc.com\/id\/10000398?view=franchise\" target=\"_blank\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); letter-spacing: 0px; color: rgb(32, 119, 182); outline: none;\">Barack Obama<\/a>&nbsp;in 2015 proposed a one-time break of 14 percent on overseas cash and a 19 percent tax on future earnings, but it didn&#8217;t go anywhere.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">In the current political climate, both<a href=\"http:\/\/www.cnbc.com\/id\/10000440?view=profile\" target=\"_blank\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); letter-spacing: 0px; color: rgb(32, 119, 182); outline: none;\">Hillary Clinton<\/a>&nbsp;and&nbsp;<a href=\"http:\/\/www.cnbc.com\/id\/10000329?view=profile\" target=\"_blank\" style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); letter-spacing: 0px; color: rgb(32, 119, 182); outline: none;\">Donald Trump<\/a>&nbsp;have talked on the presidential campaign trail about corporate tax reform and repatriation. A little political momentum wouldn&#8217;t hurt the effort. Bovino said she hopes that if nothing else, the proposal helps spur a larger movement toward corporate tax reform.<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">&#8220;We wanted to put this proposal out because we want to get the conversation started,&#8221; Bovino said. &#8220;Obviously, it&#8217;s something that both parties are showing interest in and support. This is one avenue they can explore. This is really just a starting point.&#8221;<\/p>\n<p style=\"-webkit-tap-highlight-color: rgba(32, 119, 182, 0.2); margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding: 0px 0px 20px; line-height: 29.44px; color: rgb(47, 47, 47);\">Source:CNBC&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<div data-animation=\"no-animation\" data-icons-animation=\"no-animation\" data-overlay=\"\" data-change-size=\"\" data-button-size=\"0.7\" style=\"font-size:0.7em!important;display:none;\" class=\"supsystic-social-sharing supsystic-social-sharing-package-flat supsystic-social-sharing-content supsystic-social-sharing-content-align-left\" data-text=\"\"><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed facebook\" target=\"_blank\" title=\"Facebook\" href=\"http:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F11323\" data-main-href=\"http:\/\/www.facebook.com\/sharer.php?u={url}\" data-nid=\"1\" data-name=\"\" data-pid=\"1\" data-post-id=\"11323\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-facebook\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><a data-networks=\"[]\" class=\"social-sharing-button sharer-flat sharer-flat-1 counter-arrowed twitter\" target=\"_blank\" title=\"Twitter\" href=\"https:\/\/twitter.com\/share?url=https%3A%2F%2Fbestinsurance.gr%2Fa1%2Farchives%2F11323&text=This+plan+brings+%242.5+trillion+in+corporate+cash+home%2C+and+creates+jobs\" data-main-href=\"https:\/\/twitter.com\/share?url={url}&text={title}\" data-nid=\"2\" data-name=\"\" data-pid=\"1\" data-post-id=\"11323\" data-url=\"https:\/\/bestinsurance.gr\/a1\/wp-admin\/admin-ajax.php\" rel=\"nofollow\" data-mailto=\"\"><i class=\"fa-ssbs fa-ssbs-fw fa-ssbs-twitter\"><\/i><div class=\"counter-wrap arrowed\"><span class=\"counter\">0<\/span><\/div><\/a><\/div><p>This plan brings $2.5 trillion in corporate cash home, and creates jobs.U.S. companies are parking trillions in cash overseas, with little progress from policymakers trying to bring all that money home. Now, a new proposal aims not only to bring that money back to domestic shores, but also to give job creation a nudge \u2014<\/p>\n","protected":false},"author":1,"featured_media":10874,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-11323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/11323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=11323"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/11323\/revisions"}],"predecessor-version":[{"id":11324,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/11323\/revisions\/11324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/10874"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=11323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=11323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=11323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}