Will US companies put overseas cash to work? Don't bet on it
WASHINGTON (AP) — The Republican tax plan seems about to hand a bow-tied holiday gift to some of America's richest multinational companies, from Apple and Microsoft to Google's parent Alphabet: Tens of billions in tax breaks on profits they've parked overseas.
Republicans say they're confident the companies will spend their windfall on new plants, equipment, jobs and higher pay — investments that would energize the economy and serve America's workers.
But will they?
Remarks from some of the companies themselves — as well as economic history — suggest that the payoff for the nation will be a meager one. The companies seem likely to direct their money mainly to shareholders through dividends and stock buybacks, just as large U.S.