Given all of the healthcare debate this item has disappeared from the news, but not from the Obama agenda, in fact there are changes to the taxation of foreign profits included in the healthcare bill.
Here is some prespective from the UK. They are also experiencing an exodus of company headquarters to the likes of Switzerland, Luxembourg, and Ireland and at least part of the reason is the higher taxes in the UK. Meanwhile, this allows Switzerland to broaden its tax base, which increases its revenue while keeping its tax rates low.
If only our adminstration could learn from this versus pandering to its constituency.