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Cohn Says Repatriation Tax Rate Will Be in the ‘10% Range’

  • White House economic adviser speaks on Fox News Channel
  • Eyes on the prize of estimated $2.6 trillion in offshore money
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Cohn on Tax Cuts, Deficit, Deductions, Middle Class

National Economic Council Director Gary Cohn said Sunday that the Trump administration’s proposed tax on offshore profits would be in the “10 percent range.”

The long-awaited tax framework unveiled by White House advisers and congressional leaders last week didn’t specify the rates for the one-time tax U.S. companies would be subject to for their accumulated offshore profits. The plan just said there would be a higher rate for income held in cash compared to the rate for less liquid investments.