,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ehhc  ,,in ,,the ,,house ,,of  
,,representatives  ,december #aa1 #bjad 
,mr4 ,stockman introduced the following 
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to lower the ,federal tax on   
the earnings of ,american companies with
 foreign operations4  #a4 ,short title  
,this ,act may be cited as the ,fair    
,tax for ,repatriation ,act4  #b4       
,lowering of ,federal tax on earnings of
 overseas ,american companies  7a7      
,findings ,the ,congress finds that     
,american companies with foreign        
operations are accumulating earnings    
totaling as much as one trillion        
dollars1 not repatriated to the ,united 
,states due to corporate income taxes as
 high as #ce percent4 ,as a result of   
this penalty1 ,u4,s4 companies invest   
their earnings in foreign countries with
 little to no consequence4 ,however1 if 
invested internally1 these funds could  
spur the development of ,u4,s4 jobs1    

capital assets1 research1 and more4     
,whereas most developed countries1 such 
as ,germany1 the ,united ,kingdom1 and  
,france all have a tax on corporate     
profits earned internationally ranging  
from #j percent to #b percent1 the      
,united ,states has not followed this   
lead4 ,therefore1 the ,congress must    
adopt legislation lowering the ,federal 
tax on earnings of ,american companies  
with foreign operations to #e percent4  
,implementation of this change has the  
ability to raise ,federal tax revenue by
 #ej billion1 helping to fund the       
trillion dollar stimulus4  7b7 ,american
 ,jobs ,creation ,act of #bjjd          
,elimination ,the ,american ,jobs       
,creation ,act of #bjjd allows ,american
 companies with foreign operations a    
one-time tax break on earnings1         
decreasing the ,federal tax from #ce    
percent to #e4be percent4 ,the ,fair    
,tax for ,repatriation ,act would lower 
this tax from #e4be percent to #e       
percent permanently4  #c4               

,administration of the ,fair ,tax for   
,repatriation ,act ,the ,united ,states 
,department of the ,treasury will be    
responsible for administrating and      
enforcing the ,federal tax on earnings  
of ,american companies with foreign     
operations4 ,the ,federal tax for ,u4,s4
 corporations earning profits abroad    
will be a flat #e percent4  #d4         
,enactment ,date ,this bill shall go    
into effect #ij days after passage4