Apple to take advantage of tax break to repatriate overseas cash

Apple on Wednesday revealed plans to bring back most of the $252 billion in cash it has been holding overseas. The company is taking advantage of a one-time tax break offered under the Republican tax overhaul signed into law last month by President Trump. Apple said it would pay $38 billion in taxes, and use some of the repatriated cash to create 20,000 jobs, build a new domestic campus, and make other investments. “I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States,” Trump tweeted. “Great to see Apple follow through as a result of TAX CUTS.”

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