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Clinton proposes new ‘exit tax’ on corporate inversions

2016 Elections

Clinton proposes new ‘exit tax’ on corporate inversions

The Democratic presidential front-runner will propose spending the revenue raised by the new tax to boost manufacturing jobs in the U.S.

Clinton proposes new ‘exit tax’ on corporate inversions

WASHINGTON (AP) – Hillary Clinton will unveil on Wednesday a proposal for a new “exit tax” aimed at cracking down on U.S. companies that merge with corporations overseas to lower their tax bills.

The new tax will be part of a broader effort to target what experts say is roughly $2 trillion in profits U.S. companies are hoarding abroad to save money on taxes.

The Democratic presidential front-runner will propose spending the revenue raised by the new tax to boost manufacturing jobs in the U.S.

That’s according to campaign aides, who spoke on condition of anonymity ahead of the official campaign announcement.

Clinton’s new proposals are part of the economic agenda her campaign has been rolling out this month.

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