Income shifting by multinational firms has been researched extensively, yet few studies have examined foreign-owned businesses shifting income out of the United States. In a new study, Jim Albertus at Carnegie Mellon University evaluated the impact of tax incentives on foreign-owned U.S. businesses’ income shifting, employment, and investment decisions. He found that foreign multinational firms engage in a modest degree of tax-motivated income shifting out of the United States. The results inform the potential effects of the “Revenge Tax” provisions of the June 2025 tax bill under consideration in the U.S. Congress.
Foreign multinational firms found engaging in limited tax-motivated income shifting out of US
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