Tax law likely to send factories, jobs out of the US, say critics

Under the new law, income made by American companies' overseas subsidiaries will face the US taxes that are half the rate applied to their domestic income

Natalie Kitroeff | NYT  |  New York 

In Indiana, Missouri and Pennsylvania, President Donald Trump used the same promise to sell the tax Bill: It would bring jobs streaming back to struggling cities and towns. “Factories will be pouring into this country,” Trump told a crowd in St Charles, Missouri in November. “The tax cut will mean more companies moving to America, staying in America and hiring American workers right here.” The Bill that Trump signed, however, could actually make it attractive for companies to put more assembly lines on foreign soil.

Under the new law, ...
First Published: Wed, January 10 2018. 02:22 IST