In today's Wall Street Journal: CEOs Defend Foreign Tax Breaks As Health-Care Bill Looms, by Martin Vaughan:

CEOs of multinational companies pressed House lawmakers this week not to raise taxes on their firms' foreign profits in order to fund a $1.2 trillion overhaul of the health system. CEOs that are members of the Business Roundtable, a trade group of Fortune 500 companies, held meetings with individual House Ways and Means Committee members to press their case on the international tax issues.

According to those present, CEOs that participated included John T. Chambers of Cisco Systems Inc. (CSCO), David M. Cote of Honeywell International Inc. (HON), Kenneth I. Chenault of American Express Co. (AXP) and Joseph M. Tucci of EMC Corp. (EMC).

They are fighting proposals by President Obama to curb a tax break known as deferral, which allows firms to postpone taxes on their foreign income as long as they do not repatriate it to the United States. And they are finding some allies among House Democrats.