A new study examines the likely effects of a change in the U.S. corporate tax system from the current worldwide system to a new hybrid system similar to the territorial systems used by other developed countries and concludes that such a change would increase the repatriation of foreign earnings by U.S. multinational companies.
The study, released Friday by the Berkeley Research Group, also found that a switch to a territorial system would enhance the global competitiveness of many U.S.-based multinational companies, increase corporate tax revenues—at least in the short run—and generate economic growth and jobs in the U.S. The research was sponsored by General Electric and a business trade group, the Alliance for Competitive Taxation, which supports lowering the corporate tax rate.
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