For John, BLUF: Right now we are collecting no taxes on overseas profits. Nothing to see here; just move along.
In today's issue of The Boston Globe there is an Associated Press item by Mr Stephen Ohlemacher, "Proposal for business tax would fund road repairs".
This cannot be good. It was written in a bipartisan way, by Democrat Senator Chuck Schumer of New York and Republican Rob Portman of Ohio.
Actually, it is good. It will encourage repatriation of profits from overseas ventures of American firms and it will free up money for transportation infrastructure improvements. Money for such things is due to run out in a month.
Let us hope that the Lower House goes along.
Regards — Cliff