How Tax Bills Would Reward Companies That Moved Money Offshore – The New York Times

“Over the past few decades, some of the largest companies in the United States made a big bet: By stashing hundreds of billions of dollars of profits offshore, they could slash their taxes and bolster their profits.

It would take a generation to see if the strategy would fully pay off, because the law allowed companies only to defer the taxes on overseas earnings, not to permanently avoid them. Would they ever be able to bring the profits back to the United States without incurring huge tax bills?Some 20 years after the tax-avoiding technique became widespread, it is poised to pay off in a big way. The Republican tax bills making their way through the House and Senate would allow companies to bring nearly $3 trillion in profits home, at greatly reduced tax rates.”