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Article: Beltway Monitor.(United States. Pension Benefit Guaranty Corp.)(Charles E.F. Millard)(Barack Obama)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- July 6, 2009
- Author:
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Byline: Editorial Staff
Just when private-equity executives got used to the idea of having to pay higher taxes on their fund profits, President Barack Obama unleashed another broadside against the buyout community in the form of a potential tax increase for US companies with foreign subsidiaries.
The President's $210 billion tax proposal, unveiled in May, would levy additional taxes on multinational US corporations and private equity-backed companies with foreign business units.
Under the present system, corporations are able to secure a credit for income taxes imposed on business units in which a parent company owns a stake of 10% or more, if ...