Clinton to seek 'clawback' tax on firms that send jobs abroad: aide

U.S. presidential candidate former Secretary of State Hillary Clinton addresses Hillary for America rally in New York, March 2, 2016. REUTERS/Lucas Jackson
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Reuters) - U.S. Democratic presidential candidate Hillary Clinton will propose a "clawback" tax on Friday for companies that outsource jobs or facilities abroad, a campaign aide said.
The proposal would rescind tax relief for companies after they move those positions out of the country. Several previous years of tax relief would be clawed back, according to the campaign aide, with revenue then going to encourage investment in the United States.
Clinton will make the proposal on Friday in Detroit, Michigan, during a speech on jobs and the economy. She is the front runner for the Democratic nomination to the November presidential election.
(This version of the story corrects the day in first paragraph to Friday.)
(Reporting by Luciana Lopez and Amanda Becker; Editing by David Alexander)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. Senator Warren urges FTC to stop L3Harris deal to buy Aerojet
- Man who assaulted U.S. Capitol Police officer sentenced to 80 months in prison
- U.S. House panel to vote next month on possible TikTok ban
Create E-mail Alert Related Categories
General News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!