The United States, unlike many countries, taxes its companies' overseas profits.

Any overseas profits accrued not to it, but to the sub-businesses.

Unlike Ford and General Motors, it has no overseas profits to fall back on.

And the rising dollar will hurt when companies translate overseas profits.

A Reuters article has also stated that the plan would eliminate taxes on overseas profits for businesses.

But the company added that overseas profits, excluding results from Brazil, were at a record level.

But overseas profits were up $24 million, to $110 million, as a result of stronger sales in Europe and Asia.

But the bill would also offer a wide array of tax reductions on the overseas profits of American companies.

When the company returns its overseas profits to the UK, they return as dividends, which are tax free.

Earnings also received a lift from a strong dollar, which raised the yen value of overseas profits, the company said.