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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

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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.