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# Rand Paul Hushes CNBC Reporter

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## Video: Rand Paul Hushes CNBC Reporter

[Watch (HLS stream): Rand Paul Hushes CNBC Reporter](https://cdn.jwplayer.com/manifests/u87pyrkz.m3u8) (1:42)

![Rand Paul Hushes CNBC Reporter](https://cdn.jwplayer.com/v2/media/u87pyrkz/poster.jpg?width=720)

_Published 2015-02-02. Rand Paul Hushes CNBC Reporter_


---

Jul 27, 2023 5:52 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

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### Real TIME: Rand Paul at CPAC 2015

[U.S. Senator Rand Paul at CPAC 2014](/video/soHiSF99/)

### U.S. Senator Rand Paul at CPAC 2014

[TIME_RandPaul_current](/video/7RnzURum/)

### TIME\_RandPaul\_current

---


## Transcript

Let's move on, obviously the big news of the day here is the proposal with you and Barbara Boxer that would allow our companies which have about two trillion dollars worth of cash overseas to bring it home, a one time holiday, I think at a six and a half percent corporate tax rate, senator I'm sure you know that most of the research on this indicates that these actually cost more money over the long term than they save. Well that's incorrect. Are you saying that your plan will be different? Oh oh, let's go back again. Your premise and your question is. All right. Is mistaken. Okay? Most of the research doesn't indicate that.

In fact there's a prominent study by Robert Shapiro looking at the holiday in 2005, when we lowered the rate to 5 %. And his conclusion was that it brought 300 billion. New, 3 hundred billion dollars of new capital home, and then it brought in about 30 billion dollars of new tax revenue. The whole purpose of doing this is to bring money home Right but, it works that first year Let me finish, hey, hey, let me finish here, hey, hey But the concern is down the road Hey Kelly, hey I'm sorry, go ahead Hey, sh, quiet, I'm sorry, go ahead Quiet, calm down a bit here Kelly, let me answer the question.

The whole point of this legislation is money has been accumulating. Much money has been actually inverting and people are reencorperating because the tax country is not encouraging money to come home. So this is to lower tax rate, to bring more money home, and to take that new money, some of the tax revenue, and put it in to the highway fund. I think this is a win / win. You lower a tax rate, you bring in more revenue, and you are actually able to plug a hole we have in our highway trust fund. What people want, Senator, is for you to make this permanent. Why not just make it six and a half percent, period?

The problem is that, as happened in 2004 I, let me answer the question. Let me answer the question before you get going. Alright.

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