U.S. tax overhaul may drain $2 trillion from foreign projects: U.N.Complains!

GENEVA, Feb 5 – U.S. President Donald Trump’s tax reform could bring almost $2 trillion back to the United States as U.S. firms repatriate cash piles from foreign affiliates, a U.N. report said on Monday.
Ending the incentive to hoard cash overseas could produce a stimulus effect in the United States, and Trump has credited the tax reform with spurring a $350 billion investment plan by Apple.
Since then, U.S. overseas retained earnings have grown to $3.2 trillion, half of U.S.-owned foreign direct investment, with about $2 trillion in cash. Unlike in 2005, companies are not required to actually repatriate the funds.

www.dailymail.co.uk/wires/reuters/article-5354383/U-S-tax-overhaul-drain-2-trillion-foreign-projects-UN.html
Even if the money was not invested in tangible assets, its withdrawal could still have a macroeconomic impact, said Richard Bolwijn, UNCTAD’s head of investment research.

h/t Goneviral

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