Home Daily Blitz How Apple Could Bring Overseas Cash Home To Help Fix America’s Crumbling Infrastructure
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How Apple Could Bring Overseas Cash Home To Help Fix America’s Crumbling Infrastructure

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marketwatch-articleThe following is an excerpt from Ciara Linnane | October 8, 2016 | Marketwatch.com |

Would U.S. companies holding wads of cash overseas be more likely to bring it home if, instead of facing steep corporate tax rates, they could invest part of the money in bonds and help mend America’s crumbling infrastructure?

Standard & Poor’s believes they would, and it argued in a new report Wednesday for a program that would allow companies repatriate the more than $2 trillion parked overseas on a tax-free basis, in return for committing 15% of it to investments in interest-bearing infrastructure bonds that would be issued by state and local governments.

Would U.S. companies holding wads of cash overseas be more likely to bring it home if, instead of facing steep corporate tax rates, they could invest part of the money in bonds and help mend America’s crumbling infrastructure?

Standard & Poor’s believes they would, and it argued in a new report Wednesday for a program that would allow companies repatriate the more than $2 trillion parked overseas on a tax-free basis, in return for committing 15% of it to investments in interest-bearing infrastructure bonds that would be issued by state and local governments.

“There is bipartisan support, including from the presidential candidates, to address our country’s infrastructure problems, but there is little consensus on how to fill the huge gap between what the government can finance and how much money is needed to pay for these projects,” Beth Ann Bovion, U.S. chief economist at S&P Global Ratings. “Private capital can be part of the solution.”

For more visit: marketwatch.com

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