Obama Budget Calls For 14% Tax On Overseas Corporate Profits To Fund Repairs To US Roads and Bridges

U.S. President Barack Obama is planning a levy on trillions of dollars worth of profits American companies are earning abroad, but aren't being returned home. The idea has gained some support but doesn't have the confidence of Republicans. The new tax measure will be included in Obama's $4 trillion 2016 budget proposal aimed at addressing economic inequality and supporting the middle class. It will include a one-time 14 percent tax on roughly $2 trillion worth of American companies foreign profi...