US corporations could be saying goodbye to Ireland
Trump’s tax reform a big incentive to bring the cash home
President Donald Trump’s tax reforms are a threat to countries such as Ireland.
Farewell, Ireland: it looks like corporate America will finally bring that cash home.
For years, the likes of Apple and Microsoft have stashed billions of dollars offshore to slash their US tax bills. Now, the tax-code rewrite could throw that into reverse. The implications for the financial markets are huge. The great on-shoring could prompt multinationals -- which have parked much of their overseas profits in Treasuries and US investment-grade corporate debt -– to lighten up on bonds and use the money to goose their stock prices. Think buybacks and dividends.