By Robert Hennelly
One of the key planks in Donald Trump’s tax reform plan would end the practice of U.S. multinationals stashing hundreds of billions of dollars in offshore accounts to reduce their U.S. tax liability. These companies should be familiar to him: A review of Trump’s stock portfolio, as itemized in his financial disclosure form, shows he owns millions of dollars in stock in the same companies that have been most aggressive with these legal but controversial tax strategies.
“They think it is $2.5 trillion,” Trump told reporters earlier this month, referring to the amount of cash currently “stranded” offshore. “I think it is much more than that, and boy, if it is, we have hit pay dirt.”