Two Senators Have Proposed A Tax Holiday Tech Companies Would Love (AAPL, GOOG)

Tech giants like Apple, Microsoft, and Google have tons of cash, but there's a catch: most of it is offshore. That means they can either spend their cash abroad or bring it home and hand over up to 35% to Uncle Sam, according to Bloomberg. Companies can defer paying taxes on revenue earned abroad, so there's not much incentive to bring it back to the states. But Senators Barbara Boxer (D-CA) and Rand Paul (R-KY) announced a plan on Thursday that could have Silicon Valley grinning ear-to-ear. The...