Tax bill to bring the dollars home
Tony Norfield, global head of FX research at the bank in London, estimates that between $100 and $200 billion would flow back to the US as a result of the Homeland Investment Act, which is currently passing through Congress.
The bill allows US companies with foreign branches to repatriate earnings held overseas at a tax rate of 5.25%, instead of the current rate of 35%.
ABN Amro's model measures the sensitivity of the Federal Reserve's broad nominal trade-weighted index (TWI) to various types of
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