A majority of business leaders expect President-elect Trump and Capitol Hill will find a way to bring cash held by corporations overseas back to the United States. But when it comes to the possibility of repatriating the $2.5 trillion held by U.S. corporations overseas, CFOs have a strong message for Trump and Congress: Don't tell us how to spend it.
Nearly 60 percent of U.S. respondents to the CNBC Global CFO Council survey believe that a cash repatriation holiday will occur in 2017. President-elect Trump has proposed a tax rate of 10 percent on overseas money brought back to the United States.
But CFOs overwhelmingly disagree with the idea that the government should dictate how the cash is spent — in particular, any prohibition against the money being used for stock buybacks.