Karine Jean-Pierre Answers "Orwellian" Question About Inflation Reduction Act

ABC News' Jon Karl asked White House Press Secretary Karine Jean-Pierre if the Inflation Reduction Act's name is "Orwellian".

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One of the things that they did in this tax deal during the Trump years was to bring down the taxation costs right the taxation level of money that was made overseas and repatriated to the United states. This is money that had been basically sidelined since 2004. I think it was five. During World War II I think it was Truman who basically said we're gonna cut American companies, we're gonna try and incentivize American companies as part of the Marshall plan. or sort of like not specifically the marshall plan. but part of the same idea. incentive incentivize american companies to do business overseas. and so we're going to give you a tax break. if you bring you can repatriate profits from overseas at a discounted rate. then it can come back into this country. and this went on for gosh i can't remember how many years this was. and at one point I think it was you who had companies as the tax rate went back up maybe during the clinton years i think it was. tax rates went back up when they start to hoard money overseas. they would just leave it there in the bank. It's almost like I don't know if you have a crypto account and you don't convert it into US dollars and so you don't have to pay taxes yet. or you have unrealized stock gains except for there's no risk associated with this because the money's just sitting overseas. and it's in dollars.