WSJ: Why companies are hoarding cash

"it isn't just management that is making companies sit on too much cash. It is tax policy, too. Congress and the White House are discussing whether the U.S. should follow the rest of the world and stop taxing repatriated offshore earnings from companies that already have paid taxes to foreign governments. Some gnarly technical details will have to be worked out if the repatriation tax is to be reduced or eliminated."

http://online.wsj.com/article/SB10001424052748703803904576152492475125636.html?mod=WSJ_article_MoreIn_Investing