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Oracle News Headlines

 


Approved Business-Tax Bill Could Mean Big Bucks

November 22, 2004

An article recently published on ITtoolbox.com indicates that a newly approved business-tax bill could bring major moola ($$$) to some of the high-tech companies in the United States.

A provision in the American Jobs Creation Act of 2004 could provide billions in tax relief to tech companies with large cash stockpiles parked overseas, in hopes they pump the profits back into the USA. The potential bottom line for the national economy: Hundreds of billions of dollars in investments and up to 500,000 new jobs, financial analysts say.

The bill was recently passed by the House and is expected to be signed by President Bush any day now.

The companies that will benefit the most are ...

U.S. firms, led by the tech and pharmaceutical industries, have an estimated $650 billion in profit sitting overseas, where most of it has stayed because of high tax rates in the USA. Nearly half that amount, $300 billion, could be reinvested in the USA under the bill's provisions, says a J.P. Morgan report.

http://oracle.ittoolbox.com/news/dispnews.asp?i=122644 


 

 
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