Repatriation tax holiday details hit wires

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As Eddie pointed out earlier, part of the slump in EUR/USD to the 1.3270s at mid-morning was on a DJ headline on a repatriation tax holiday being proposed by Senators Hagan and McCain.

The goal is to lure US corporations into repatriating some or all of the $1.4 trln in profits being help overseas to avoid US taxation.

A similar bill, the Homeland Investment Act,  was put in place in the mid-200s, resulting in a measurable rally in the dollar as the funds were brought back to the US.

 

2011-10-05T16:06:12+0000

All|Americas|Market Rumors|Regions

US economy

Jamie Coleman

3 Comments

  1. boy, your level of corruption sometimes is truly amazing :p

  2. Wasn’t the effect on the USD debatable last time? I mean,if they brought it in now it could be said that the USD was going to rally anyway. I looked for a direct impact from the last lot of action and found it hard to find where dates ambience action correlated….

  3. It was a plus for the dollar, pure and simple. The flows were very steady and easily identifiable…Every corporate took advantage.

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