Move to a competitive territorial tax system

To bring the U.S. system more in line with our international trading partners, I support changing the way we tax foreign sourced income by moving to a territorial system. Under such a system, income earned by foreign subsidiaries and branch operations (e.g., a foreign-owned company with a subsidiary operating in the United States) is exempt from their country’s domestic corporate income tax. Under a territorial system, most or all of the foreign profits are not subject to domestic tax.

My Passion
Party Passion