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This paper was completed in partial satisfaction of course requirements for ACCT 8570(2) - International Taxation - at Kennesaw State University during the Summer 2009 eight week semester. The paper outlines the effect of the international taxation policy reform that President Obama has proposed, specifically the change in the deductibility of foreign expenses before the recognition of foreign income. The reform is intended to force MNCs to recognize income and pay taxes sooner on earnings that previously would not have been repatriated for a long time, if at all, and/or to invest more resources in the U.S. rather than on outsourcing certain aspects of operations.