WASHINGTON and SILICON VALLEY, Calif., Aug. 19, 2011 /PRNewswire/ -- Timothy E. Guertin, president and CEO of Varian Medical Systems, and Michael Klayko, CEO of Brocade, argue that allowing companies to bring home their global earnings — a process called repatriation — at a reduced tax rate would encourage capital spending, investment in domestic operations, and contribute critically-needed revenue to the U.S. Treasury.
In an op-ed column that appeared earlier this week on "The Hill's Congress Blog," Guertin and Klayko exhort Congressional leaders to support H.R. 1834, the Freedom to Invest Act of 2011, and similar efforts that are being discussed in the Senate. "The drumbeat of disappointing reports on industrials, jobs and GDP growth mean we cannot wait any longer to answer this critical question — should we bring upwards of $1 trillion home to invest in our recovery, or should we continue to let it sit overseas, assisting other countries in theirs?" they ask.
The full text of the piece can be accessed online, as follows:
"Start small, think big: Why we want repatriation, too" by Timothy E. Guertin, president and CEO of Varian Medical Systems, and Michael Klayko, CEO of Brocade, board members of the Silicon Valley Leadership Group. The Hill's Congress Blog, 08/17/11 10:19 AM ET
About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California (NYSE: VAR) is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems employs approximately 5,700 people who are located at manufacturing sites in North America, Europe, and China and approximately 70 sales and support offices around the world. For more information, visit http://www.varian.com.
Brocade (NASDAQ: BRCD) networking solutions help the world's leading organizations transition smoothly to a world where applications and information reside anywhere. (www.brocade.com).
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SOURCE Timothy E. Guertin & Michael Klayko