U.S. Congressman Paul Broun, M.D. (GA-10) today released the following statement after Apple Inc. revealed that high corporate taxes in the United States will discourage the company from bringing nearly $64 billion in overseas holdings back to America:
"This is just another unfortunate example among many of how our uncompetitive tax code is keeping jobs and capital trapped outside of our nation's borders. As long as U.S. tax policies punish success, our economy will continue to languish while other countries reap the benefits. We desperately need pro-business, pro-growth legislation such as my JOBS Act to jumpstart the private sector and get us out of this recession. In fact, if my JOBS Act were law today, companies such as Apple would never have taken their money offshore in the first place, along with the thousands of jobs that went with it."