Apple’s CEO Tim Cook met with U.S. Speaker of the House John Boehner at the United States Capital today, according to Boehner’s blog (via MacRumors). There is no word on what the two powerful men discussed, but it could possibly involve the tax holiday that Apple is pushing for to move a chunk of its money to the U.S. from overseas. Such a tax holiday would offer huge cuts in the rates for moving the money, which makes it much cheaper for Apple.
Apple currently has $74 billion of its $110 billion based overseas, the company revealed during its last earnings call. A US tax holiday would allow roughly $1 trillion from Apple and other companies to go back to the U.S. However, it could cost the U.S. federal government $79 billion, The New York Times said last month in its relatively popular piece titled “How Apple Sidesteps Billions in Taxes.” (There is a great graphic at Bloomberg on why the $1 trillion holiday is likely going to happen.)
Does anyone want to take a stab at what the two were discussing?
Update: Check out another picture of the two below which appears to show the handoff of an iPhone 7:
That’s an iPhone 7 cleverly disguised to look exactly like an iPhone 4S in a bumper.