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U.S. Fiscal 2016 Budget Sent to Congress

|Proposed Changes|United States
United States

On 2 February 2015, U.S. President Barack Obama's Fiscal 2016 Budget was sent to Congress. Key corporate tax measures included:

  • A one-time tax of 14% on un-taxed foreign earnings accumulated overseas (to be used to fund transportation infrastructure repairs and improvements)
  • A minimum tax of 19% on foreign earnings going forward with no deferral option
  • A reduction in the top marginal corporate…

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