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From: Moonray11/9/2017 3:40:56 PM
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Senate GOP Tax Bill May Be Bad News For Investors; S&P 500 Slips

Senate Republicans will delay implementation of a cut in the corporate tax
rate to 20% until 2019. Meanwhile, House Republicans just filled a hole in
their bill by hiking the tax rate charged on accumulated foreign earnings
held overseas. Apple ( AAPL) alone has $246 billion in accumulated profits
that haven't been subject to U.S. taxes.

Another House measure would aim to combat profit-shifting by companies
such as Apple, Google-parent Alphabet ( GOOGL) and Pfizer ( PFE) to low-
tax jurisdictions. The House GOP's 10% tax on high foreign returns would
raise $5 billion in 2018 and $77 billion over a decade.

The Senate has taken a related, but apparently tougher, approach in targeting
U.S. companies that recognize profits from valuable intellectual property
overseas to reduce their federal tax exposure. The Senate plan would
charge a 12.5% tax on foreign income from intellectual property, which
could raise about $130 billion, according to various reports.

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