By David Faber, CNBC Anchor and Reporter
NEW YORK ( CNBC) -- A report Tuesday from accounting analysts at JP Morgan ( JPM) seems to put a reliable number on the amount of cash that U.S. corporations hold in their foreign subsidiaries, and it's a doozy. Of the 880 companies that JP Morgan reviewed (using thousands of 10(k)s from the past eight years), it found 519 companies have a collective $1.375 trillion in undistributed foreign earnings. That number now seems destined to find its way into the ongoing debate about whether a "tax holiday" should be declared for those corporations that choose to bring some of the cash back to our shores and use it to create jobs.
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