The Wall Street Journal has created a series of data visualizations illustrating the impact the one-time “repatriation” tax included in the United State’s new tax law will impact U.S. companies that have earned an estimated $2.5 trillion or more in foreign profits over the last 30 years. The visualizations break down the total estimated unremitted foreign profits from 311 large publicly traded U.S. companies by sector, such as technology or energy, and offers estimates of how much each company will pay in the repatriation tax. The Wall Street Journal estimates the tax on these 311 companies will generate approximately $250 billion over the next 10 years, and just as some companies have earned a disproportionate share of foreign profits, the tax will impact certain companies and sectors very differently.
Visualizing U.S. Tax Reform’s Impact on Overseas Money
Joshua New is a senior policy analyst at the Center for Data Innovation. He has a background in government affairs, policy, and communication. Prior to joining the Center for Data Innovation, Joshua graduated from American University with degrees in C.L.E.G. (Communication, Legal Institutions, Economics, and Government) and Public Communication. His research focuses on methods of promoting innovative and emerging technologies as a means of improving the economy and quality of life. Follow Joshua on Twitter @Josh_A_New.
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