All overseas U.S. defense contractors must pay American taxes

WASHINGTON - The House of Representatives passed a tax legislation…

WASHINGTON – The House of Representatives passed a tax legislation that would treat foreign subsidiaries of defense contractors as U.S. employers after it was made aware that contractors have been heading offshore to duck  millions in tax dollars.  For more details on this story, click here and return back to comment.

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  • Obama is largely powerless to stop it though; if he had said he opposed it, many in NYC, especially in Manhattan (the opposition is primarily in the outer boroughs) would have seen it as an unwanted intrusion into local issues.