General Motors’ announced this week that it will lay off 14,000 North Americans workers and shift its focus to SUVs and other vehicles which are manufactured outside of the United States. This raises concerns about one of the most controversial provisions of the Trump tax cut that allows corporations to deduct 10 percent of foreign income. This means that the more a company shifts operations offshore, the bigger the break they will receive.
Do you think President Trump knew about this provision when he signed the law? He says he did not.

New Legislation Aims to Fix Tax Law Provisions That Incentivizes Outsourcing and Moving Profits Offshore – ITEPSen. Amy Klobuchar (D-MN) and several Senate co-sponsors this week introduced the Removing Incentives for Outsourcing Act, which curbs harmful new incentives created by the Tax Cuts and Jobs Act (TCJA) that encourage companies like GM to move their profits and operations offshore.https://itep.org/new-legislation-aims-to-fix-tax-law-provisions-that-incentivizes-outsourcing-and-moving-profits-offshore/
40% He knew 60% He didn't know
ErasmusB_FurmanSmalls avatar Money & Economics
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I doubt he knew or even cares. He won't listen to anyone or anything except his "gut".

All they have to do is move their Headquarters overseas, and they won't have to pay American taxes on ANY foreign income.

Anonymous