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Proposed tax holiday would make it easier for Apple to bring foreign earnings home
Two U.S. senators have sponsored a bill that would make it easier for companies like Apple to bring the cash they are keeping overseas into the United States. Currently, U.S. companies that repatriate their foreign earnings are taxed at 35%. The new bill, sponsored by Senators Barbara Boxer and Rand Paul, is called the Invest in Transportation Act of 2015 and would see these companies taxed at a much lower rate
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