MOLINE- Companies across the board are benefiting from President Donald Trump signing the tax overhaul package into law.
Grywacheski says many large U.S. corporations like Caterpillar, make much of their money overseas, keeping it at a lower tax rate. Now though, those companies may start bring more money back here, with the tax plan in effect.
"Now they can bring that existing cash back at a one time tax rate of 15.5%," Grywacheski said Monday. "Going forward, they'll be able to bring it back tax free."
Caterpillar was set to start at a record high Monday morning due to the tax overhaul plan. As of 10:50 a.m. Monday, Caterpillar's stock was up $2.72 a share to $164.68.
You can catch Grywacheski at 6:20 a.m. every Monday on Good Morning Quad Cities.
