U.S. Congress Passes Tax Bill Allowing Apple to Bring Back $252B in Foreign Cash

There has been much talk about the U.S. Congress’ new tax bill which would allow Apple some comfort in repatriating some of its cash stored within foreign accounts. This landmark bill will tax Apple at a flat 15% for its foreign cash, while the company would have to pay nearly 35% previously. Apple currently holds $252.3 billion in cash overseas, which means that at 15%, Apple would have to pay $39.1 billion in taxes.

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