Obama budget to propose taxing offshore profits to fund infrastructure fixes

(Image credit: Jamie Squire / Getty Images)

President Obama's forthcoming budget proposal will include a request for $478 billion for vast infrastructure improvements, to be funded with a 14 percent tax on $2 trillion in corporate earnings held abroad. The six-year plan is a more robust version of a policy Obama has proposed in the past. Obama is to unveil his budget on Monday.

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Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.