“It is outrageous that large multinationals continue to push for their massive tax break that past experience demonstrates will not create jobs or help our economic recovery,” Doggett added.
Robert Shapiro, a top Commerce official under President Clinton and a co-author of the NDN study, also said in a news release that a holiday was a sound policy option, even if the best approach was a broader overhaul of the corporate tax code.
Repatriation supporters have also said they want corporate tax reform. But they say that process could take years, and a repatriation holiday could bridge the gap while policymakers work to revamp the tax code.
For his part, Thomas Barthold, the JCT’s chief of staff, said that his committee would take a look at the NDN study. “The economic modeling of repatriation proposals is difficult, and the Joint Committee staff is always open to learning and to improving analysis of proposed changes in tax law,” Barthold said.
This post was updated at 3:10 p.m.