Silicon Valley craves a tax holiday on overseas profit, and a bill in Congress aims to provide...

|By:, SA News Editor

Silicon Valley craves a tax holiday on overseas profit, and a bill in Congress aims to provide by cutting taxes on repatriated funds to 5.25% from 35% under a short amnesty. Why are tech giants smiling? Potential tax savings: Google (GOOG -3.1%) $5.2B, Oracle (ORCL -1.5%) $4.8B, Microsoft (MSFT -0.5%) $8.8B, Apple (AAPL +0.3%) $3.7B.