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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (1074406)	6/26/2018 9:26:53 AM
From: Thomas A Watson	2 Recommendations Recommended By i-node isopatch Read Replies (2) \| Respond to of 1572151

American money flowing back into America By Suzanne O'HalloranPublished June 26, 2018 Business Leaders FOXBusiness US got shafted by previous trade deals: Kevin HassettWhite House Council of Economic Advisers Chairman Kevin Hassett on mounting U.S. trade tensions with China. Despite President Trump's tit-for-tat trade barbs, America’s CEOs are not wasting anytime in taking advantage of his tax reform plan. Over $300 billion was repatriated to the U.S. in the first quarter, according to the Bureau of Economic Analysis (BEA) -- the most on record. “U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home,” said Kevin Hassett, chair of the president's Council of Economic Advisers, during an interview on FOX Business’ Varney & Co. in June. The BEA notes the main driver of the repatriation surge is that companies are no longer taxed on foreign earnings when returning the funds to the U.S. “We fixed that really, really stupid thing” said Hassett. By comparison just $38 billion was repatriated during the same period a year ago. While the BEA keeps the names and sums of corporations repatriating confidential, the latest data appear to show CEOs are likely sticking to their pledge to bring more money earned overseas back to the U.S. promised shortly after the tax plan was signed by President Trump in late December 2017.