June 24, 2015 – Washington, D.C. – Claire Buchan Parker, spokeswoman for the LIFT (Let’s Invest for Tomorrow) America Coalition, today issued the following statement in advance of the Subcommittee on Select Revenue Measures’ hearing on the repatriation of foreign earnings as a source of funding for the Highway Trust Fund:
“Shoring up the Highway Trust Fund with a long-term source of funding is a critical issue Congress needs to address. So are eliminating barriers that prevent foreign earnings from being returned home for investment, removing the disadvantages U.S. companies face, and preventing the loss of American economic assets. As a stand-alone measure, a deemed repatriation tax on American enterprises will not accomplish any of those critical objectives.
“Fixing our international tax system is long overdue; the code is broken. The best way to do that is through thoughtful, pro-growth reforms that position American companies to succeed both here and abroad.”