“Biden will impose a Biden Offshoring Tax Penalty...specifically aimed at those who offshore manufacturing and service jobs to foreign nations. Companies will pay a 30.8% tax rate on any such profits from overseas production sold back to the U.S. market.”
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Biden's campaign proposed a 'Biden Offshoring Tax Penalty': a 10% surtax layered on his proposed 28% corporate rate, yielding a 30.8% tax rate on profits from offshore production sold back to the U.S., paired with a 10% onshoring tax credit. This specific penalty was never enacted: the corporate rate stayed at 21% and no offshoring surtax exists in the tax code as of 2026. Related Treasury Green Book proposals to disallow offshoring-expense deductions likewise did not pass Congress.
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