Tax multinationals that make profits abroad and use the revenue thus obtained (almost 238 billion dollars) to build roads, bridges and other infrastructure. According to Bloomberg, this is one of the proposals that US President Barack Obama will present together with the new budget.
In detail, the plan provides for a one-off tax of 14% on the two trillion dollars of offshore profits already accumulated by US companies abroad. Also arriving is a minimum tax of 19% on future earnings accrued abroad by companies based in the United States (but a tax credit will also be provided for taxes paid to the exchequer of other countries).
Under the current rule, US companies are subject to a tax rate of 35% of the profits they collect around the world. They enjoy a tax credit for payments made to other governments and do not have to pay anything to the household tax authorities until they repatriate the funds. The system thus provides incentives to report profits outside national borders and to leave them there. A practice adopted by giants such as Apple, Microsoft and Google.
