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1.6 MB
Extraction Summary
5
People
8
Organizations
0
Locations
0
Events
1
Relationships
3
Quotes
Document Information
Type:
Presentation slide / internal report
File Size:
1.6 MB
Summary
This document is a Deutsche Bank presentation slide authored by Francis J. Kelly regarding US corporate tax reform projections for Fiscal Year 2015. It analyzes legislative activities in the Senate (Portman-Schumer bill) and House (Boustany-Neal bill) concerning the repatriation of corporate profits and funding the Highway Trust Fund. The slide includes a pie chart of projected tax revenue and bears a House Oversight Committee Bates stamp.
People (5)
| Name | Role | Context |
|---|---|---|
| Francis J. Kelly | Employee, Global Public Affairs |
Listed as the contact person for Deutsche Bank on the slide.
|
| Portman | Senator |
Mentioned in the context of the 'Portman-Schumer bill'.
|
| Schumer | Senator |
Mentioned in the context of the 'Portman-Schumer bill'.
|
| Boustany | Representative |
Mentioned in the context of the 'Boustany-Neal bill'.
|
| Neal | Representative |
Mentioned in the context of the 'Boustany-Neal bill'.
|
Organizations (8)
| Name | Type | Context |
|---|---|---|
| Deutsche Bank |
Creator of the document/presentation.
|
|
| US Senate |
Legislative body working on tax packages.
|
|
| US House of Representatives |
Referred to as 'The House', proposed the Boustany-Neal bill.
|
|
| White House |
Noted for remaining silent on the bills.
|
|
| US Treasury |
Mentioned as potentially being 'in league' with Congress.
|
|
| Highway Trust Fund |
Beneficiary of potential revenue from the tax deal.
|
|
| OMB |
Office of Management and Budget, cited as the source for the chart data.
|
|
| Congress |
Legislative body.
|
Relationships (1)
Name and email listed under Deutsche Bank Global Public Affairs.
Key Quotes (3)
"The real focus is on corporate tax reform, spurred on by the inversion debate."Source
HOUSE_OVERSIGHT_026798.jpg
Quote #1
"What is interesting for both bills is what did not happen: The White House remained silent."Source
HOUSE_OVERSIGHT_026798.jpg
Quote #2
"Could Congress (in league with US Treasury) slip a major corporate tax report into the appropriations bill using the 'Reconciliation' process?"Source
HOUSE_OVERSIGHT_026798.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (1,247 characters)
US corporate tax reform: have the seeds been planted and is there a deal to be done?
[Deutsche Bank Logo]
- The US Senate has worked on a possible tax package since January. But no clear consensus has emerged on a larger package.
- The real focus is on corporate tax reform, spurred on by the inversion debate.
- In the Senate, a bipartisan bill was offered to encourage corporate profits abroad to repatriate at a significantly lower rate (the Portman-Schumer bill).
- In the House, a plan was offered in late July that would allow corporations to repatriate at a lower rate if they invested in "research and development" (the Boustany-Neal bill). The revenue from the deal would pay for the Highway Trust Fund – which needs money.
- What is interesting for both bills is what did not happen: The White House remained silent.
- Could Congress (in league with US Treasury) slip a major corporate tax report into the appropriations bill using the "Reconciliation" process?
- The real focus is on corporate tax reform, spurred on by the inversion debate.
- In the Senate, a bipartisan bill was offered to encourage corporate profits abroad to repatriate at a significantly lower rate (the Portman-Schumer bill).
- In the House, a plan was offered in late July that would allow corporations to repatriate at a lower rate if they invested in "research and development" (the Boustany-Neal bill). The revenue from the deal would pay for the Highway Trust Fund – which needs money.
- What is interesting for both bills is what did not happen: The White House remained silent.
- Could Congress (in league with US Treasury) slip a major corporate tax report into the appropriations bill using the "Reconciliation" process?
Projected Tax Revenue
(Fiscal Year 2015)
Excise Taxes 3%
Misc. 5%
Corporate Income Taxes 13%
Payroll Taxes 32%
Individual Income Taxes 46%
Customs Duties 1%
(Fiscal Year 2015)
Excise Taxes 3%
Misc. 5%
Corporate Income Taxes 13%
Payroll Taxes 32%
Individual Income Taxes 46%
Customs Duties 1%
Deutsche Bank
Global Public Affairs
Global Public Affairs
Francis J. Kelly
francis.j.kelly@db.com
francis.j.kelly@db.com
Source: OMB
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