NU Online News Service, Feb. 15, 2:54 p.m. EST
The Obama administration's budget proposal has reopened the debate over taxing certain reinsurance premiums ceded to foreign insurers by their U.S. affiliates.
The administration's plan would tax these premiums to a greater extent than a similar plan contained in the 2011 budget proposal. The administration projected the tax to raise $2.6 billion over 10 years, compared to the 2011 plan that would have raised $519 million in additional revenue.
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