A Lot of Apple’s Overseas Cash Is Already in the U.S.
By Matt Mossman | October 5, 2017
Donald Trump and congressional leaders’ latest plan for tax cuts is missing a lot of important details, but in a speech on Sept. 27 the president pointed to one clear objective: to get U.S. multinationals to bring some of the money they’ve stashed abroad back to the U.S. so “it can be put to work and work and work.” The plan would give companies a lower rate on built-up earnings—perhaps 10 percent rather than the current 35 percent—which they’d have to pay regardless of whether they repatriate money. Right now the money isn’t taxed unless it’s brought home.
