Tax Overhaul Could End Record Pileup of Offshore Cash
This might be the last record-breaking year for U.S. cash held overseas. A new report from Moody’s Investors Service Inc. expects offshore cash reserves to expand 8% to $1.4 trillion by the end of 2017. That’s nearly three-quarters of all cash projected to make it into U.S. non-financial company coffers by year end. The record-setting run-up in foreign cash could end in 2018 if Congressional Republicans advance their effort to overhaul the U.S. tax system, and the new rules come into effect next year.
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