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Sen. Paul: Fund Infrastructure Needs by Lowering Repatriation Rate

July 1, 2014 in Politics & Elections

Sen. Rand Paul today issued the following statement in response to President Obama’s remarks on infrastructure projects:
‘The interstate highway system is of vital importance to our economy,’ said Sen. Paul. ‘All across the country, bridges and roads are deficient and in need of replacement. We can help fund new construction and repair by lowering the repatriation rate and bringing money held by U.S. companies back home. This would mean no new taxes, but more revenue, and it is a solution that should win support from both political parties.’
U.S. companies are currently holding more than $2 trillion of profits made overseas outside of the United States. Currently, the repatriation rate is 35 percent, leaving little to no incentive to bring these profits back to the U.S.
Sen. Paul has proposed legislation, S. 911, which would establish an Emergency Transportation Safety Fund and reduce the repatriation rate to five percent.

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