NEW YORK (Reuters) - Large U.S. companies boosted their offshore earnings by 15 percent last year to a record $1.9 trillion, avoiding hefty tax bills by keeping the profits abroad, according to a new report. Full story
The American Taxpayer Relief Act that helped the country avoid the worst of the fiscal cliff did not include an extension of the payroll tax holiday. CNBC’s Eamon Javers explains why these numbers mean for the average worker.
CNBC's Courtney Reagan reports House Democrat Chris Van Hollen is calling for extending the 2 percent payroll tax holiday; and NBC affiliate WOOD found workers at the Chevy Volt Battery's Grand Rapids plant of LG Chem may be getting paid to do nothing.