White House would consider tax break on foreign profits

Reuters News
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Posted: Mar 21, 2011 3:02 PM

WASHINGTON (Reuters) - The White House said on Monday it would consider, as part of an overhaul of the tax code, a tax break for companies on foreign profits brought back to the United States.

White House spokesman Jay Carney told a briefing a so-called repatriation holiday was something the Obama administration would consider as part of tax reform.

(Reporting by Jeff Mason, Editing by Sandra Maler)