Tax changes affect the profits abroad of some US companies

WASHINGTON – When Republicans rewrote the international tax system in 2017, they were trying to help American companies like Procter & Gamble Co. to compete in foreign markets and create jobs in the domestic market. Fifteen months later, the Ohio-based manufacturer of consumer products and other US-based multinationals warned that the new law could put them at a global disadvantage and reduce their incentive to invest at home.

P & G pays about 18% to 19% of its income outside the United States in foreign taxes. It's high enough for executives to think that they …