By Roy T. Meyers | for Maryland Reporter.
In Monday’s MarylandReporter.com story, U.S. Rep. John Delaney talked about his proposed “Partnership to Build America Act”–a bill that would allow U.S. corporations to avoid taxes when they repatriate profits that are now booked overseas, if they purchase bonds that would be used to build infrastructure.
Delaney claimed that “There’s no really big pot of money other than the overseas cash”to finance transportation and public works spending.
Delaney deserves praise for seeking to build consensus on important policy issues. He’s received plenty of favorable media mentions on this bill, but as a budget and policy expert, I believe those reviews are far too generous.
The rhetoric supporting the bill is attractive–“bipartisan,”“build America,”“partnership”–but it distracts attention from the bill’s complexities. It is wise to remember that if you don’t understand a financial arrangement, then it’s time to watch your wallet.
at Maryland Reporter.