Repatriation tax holiday details hit wires

Author: Jamie Coleman | Category: News

Author: Jamie Coleman

As Eddie pointed out earlier, part of the slump in EUR/USD to the 1.3270s at mid-morning was on a DJ headline on a repatriation tax holiday being proposed by Senators Hagan and McCain.

The goal is to lure US corporations into repatriating some or all of the $1.4 trln in profits being help overseas to avoid US taxation.

A similar bill, the Homeland Investment Act,  was put in place in the mid-200s, resulting in a measurable rally in the dollar as the funds were brought back to the US.