Apple plans to repatriate its overseas cash

Apple announced in a press release today that it’s committing to add $350 billion to the American economy over the next five years. According to Apple, that includes 20,000 new jobs. But it’s unclear exactly where that multibillion-dollar figure comes from. A portion, at least — around $38 billion — is attributed to “a record tax payment upon repatriation of overseas profits.” That means taxes on the over $200 billion in cash Apple is keeping overseas. Marketplace host Kai Ryssdal spoke with Marketplace Tech host Molly Wood to unpack the news. 

Click the audio player above to hear the full interview.