Sep 17, 2018

$143 billion of estimated $2.7 trillion returns to U.S. after Trump tax cuts

Lecturn behind a sign that says "YOUR tax cuts"

Photo: Cheriss May/NurPhoto via Getty Images

"U.S. companies have moved cautiously in repatriating profits stockpiled overseas in response to last year’s tax-law rewrite, after the Trump administration’s assertions that trillions of dollars would come home quickly," WSJ's Richard Rubin and Theo Francis report.

The big picture: "The Wall Street Journal reviewed securities filings from 108 publicly traded companies accounting for the vast majority of an estimated $2.7 trillion in profits parked abroad, and asked each company what it was doing with the funds. In their filings and responses, they said they have repatriated about $143 billion so far this year... About two-thirds of the money came from two corporations—networking-equipment giant Cisco Systems Inc. and drugmaker Gilead Sciences."

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