JPMorgan Chase CEO Jamie Dimon said Tuesday that a repatriation of corporate cash now held overseas would have an effect similar to the Fed’s fourth round of Quantitative Easing (QE4), CNBC reports this week. He warned, however, that putting limitations on how the funds are used might dampen any incentives policies might bring. The comment comes as US lawmakers discuss policy proposals to give corporations a tax holiday for repatriating cash, though Democrats and Republicans are still split on where they want the money to go. Democrats want a tax holiday to fund infrastructure, while Republicans would like money to offset lower tax rates across the board.
JP Morgan Chase and Company CEO Jamie Dimon. Photo: Reuters / Larry Downing
US corporate cash repatriation could be huge stimulus
JPMorgan’s Dimon said repatriation would be like “QE4” but much cheaper