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The signed tax law sits on President Trump’s desk. Photo: Brendan Smialowski / Getty contributor

A provision of the new tax law could bring as much as $400 billion in corporate cash from overseas back into the United States, per the Wall Street Journal. That’s because of the “repatriation” provision, which gives U.S. companies a one-time tax break to bring back overseas earnings and cash — meaning they’d have to sell foreign holdings and buy assets denominated in dollars.

The bottom line: "Bank of America Merrill Lynch, BNP Paribas and RBC Capital Markets all believe the dollar will start 2018 stronger, according to forecasts released in the last several weeks. Out of those banks, however, only analysts at RBC predict the currency will hold those gains into year-end."

Go deeper

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.

Dan Primack, author of Pro Rata
11 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.