Funds repatriation bill set to pass
The Homeland Investment Act (HIA), which enables firms to bring home funds held overseas at a rate of 5.25%, instead of the current rate of 35%, is likely to be passed before the presidential election on November 2 – either to prevent a new Democrat president from rejecting the bill or to bring political prestige to the incumbent president, said Michael Woolfolk, senior currency strategist at Bank of New York in that city.
But while analysts agree the move is imminent, and concur that some $200
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