A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress's nonpartisan scorekeeper.
Lawmakers occasionally talk about a repatriation tax break as a way to pay for spending such as replenishing the Highway Trust Fund. The estimate shows the difficulty of making such an argument.
According to the estimate, dated June 6, repeating the tax holiday enacted in 2004 would generate $19.6 billion over the first two years and then start costing the government money.
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