Congressional Research Service

Oracle's Catz says businesses need $1 trillion tax holiday

March 14, 2011: 11:27 AM ET

Oracle's reclusive president continues to make the case that U.S. companies should be allowed to help the economy by brining overseas earnings home, nearly tax-free.


Image by wicho via Flickr

By Dan Mitchell, contributor

There is a big difference, says Oracle President Safra Catz, between the $800 billion federal stimulus package and the "repatriation" of $1 trillion in foreign corporate holdings that she advocates. Unlike the stimulus, "my money has already been printed," she said Friday, drawing chortles from the audience at a conference at Stanford University.

Not that all of the money is hers, or Oracle's (ORCL), of course. As Fortune first reported last month, Oracle, with Catz in the lead, has joined with several other tech, pharmaceutical and energy multinationals to mount a lobbying campaign for a tax holiday that would allow them to transfer $1 trillion they have parked overseas at a much lower rate than they would normally have to pay. Other companies in the group include Cisco (CSCO), Apple (AAPL), Duke Energy (DUK) and Pfizer (PFE). More

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