U.S.' Lew sees growing consensus for corporate tax-infrastructure deal

October 31, 2016 1:50 PM EDT

United States Secretary of the Treasury Jack Lew speaks at the Centre for American Progress in Washington, U.S., October 13, 2016. REUTERS/Gary Cameron

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

OXFORD, England (Reuters) - U.S. Treasury Secretary Jack Lew said on Monday he sees a growing bipartisan consensus in the U.S. Congress for using revenue from the repatriation of overseas corporate profits to fund infrastructure.

Lew, speaking at the Oxford Union debating club, said that the new president and Congress could quickly work on such a corporate tax reform deal that could bring in hundreds of billions of dollars in new revenue from profits that U.S. companies are holding overseas due to high tax rates at home.

"From conversations I’ve had with Democrats and Republicans, I believe that there is a broad, growing consensus behind the kind of structure that I just described," Lew said.

(Reporting by David Lawder; Editing by Bernard Orr)

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment