TCJA Encourages Offshoring, JEC Democrats Say

U.S. Joint Economic Committee

The Tax Cuts and Jobs Act’s shift toward a territorial tax system and its provisions on global intangible low-taxed income and foreign-derived intangible income increase incentives for U.S. companies to move jobs overseas and punish U.S. workers, according to an October report from the Joint Economic Committee Democrats.

<p>The Tax Cuts and Jobs Act’s shift toward a territorial tax system and its provisions on global intangible low-taxed income and foreign-derived intangible income increase incentives for U.S. companies to move jobs overseas and punish U.S. workers, according to an October report from the Joint Economic Committee Democrats.</p>

<p>The <a href="/lr/resolve/source-document/1xftl" title="Source document">Tax Cuts and Jobs Act</a>’s shift toward a territorial tax system and its provisions on global intangible low-taxed income and foreign-derived intangible income increase incentives for U.S. companies to move jobs overseas and punish U.S. workers, according to an October report from the Joint Economic Committee Democrats.</p>