Apple CEO on why the company is repatriating billions of dollars back to US

PHOTO: Apple CEO Tim Cook speaks during an event at Apple headquarters in Cupertino, Calif., March 21, 2016. PlayStephan Lam/Reuters
WATCH Apple CEO Tim Cook says new corporate taxes allow the company to repatriate billions in cash back to US

Apple CEO Tim Cook said Wednesday the company will bring back the “vast majority” of the $250 billion Apple currently has in overseas holdings and invest the money in more U.S. facilities.

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He told ABC News he has been advocating to repatriate the tech giant's overseas profits.

“We’ve always felt very comfortable with paying a lot in taxes. Just not a huge amount. And we like the repatriation agreement on the corporate tax side, and we’re going to bring the vast majority of it here,” he said.