Apple announces plans to repatriate billions in overseas cash

On the heels of the Tax Cuts and Jobs Act’s passage into law, CNBC reports that Apple will contribute $350 billion back to the U.S. economy.

“[The company] said it expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States. This implies it will repatriate virtually all of its $250 billion in overseas cash,” Anita Balakrishnan of CNBC writes. “Apple also said it will spend over $30 billion in capital expenditures over the next five years.”

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