Listen as Larry spoke with House Republican Conference Chairwoman Rep. Cathy McMorris Rodgers about tax reform, the school shooting in Florida and more.
Tax reform windfall: These companies are hiking pay, delivering bonuses
Cisco Systems (CSCO) on Wednesday said it would bring back billions of dollars in overseas cash to the U.S., joining other major companies in rewarding employees and shareholders after the passage of tax reform.
The tech giant said it plans to repatriate $67 billion in cash in its third fiscal quarter of 2018 after the recently-enacted U.S. tax code lowered the tax rate for such transactions, the Wall Street Journal reported. Cisco is expected to funnel some of its tax savings into shareholder dividends.
The $1.5 trillion tax overhaul that President Donald Trump signed in December reduced the corporate tax rate from 35% to 21% and changes the way the U.S. government taxes companies that also operate internationally. [Read More]
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