Corporations owe up to $695 billion in U.S. taxes on offshore profits: Tax revenue raised from statutory rate (less foreign taxes paid) versus revenue from Obama tax repatriation proposal
| Rate | Tax Gathered |
|---|---|
| Statutory rate (CTJ estimate)* | $695 |
| Statutory rate (Credit Suisse estimate)** | $533 |
| Obama plan | $195 |
*Based on an estimated $2.4 trillion in offshore profits in 2015
**Based on an estimated $2.1 trillion in offshore profits in 2014
Source: ATF and EPI analysis of CTJ (2016a); Zion, Gomatam, and Graziano (2015); and JCT (2016, 1)