Oracle (ORCL), (CSCO) (AAPL) (QCOM) (GOOG) (MSFT) (PFE) Continue Tax Holiday Fight

The battle by major companies like Pfizer Inc. (NYSE:PFE), Oracle Corporation (ORCL), Cisco Systems Inc. (CSCO), Apple Inc. (AAPL), Duke Energy Corporation (DUK), Qualcomm Inc. (QCOM), Google Inc. (GOOG) and Microsoft Corporation (MSFT) for a tax holiday is heating up, and it appears it could become a reality, bringing over $1 trillion back into the U.S.

Companies say they would have more capital to invest in job creation, factories, equipment, and research and development, although there is no doubt some would be used for boosting dividends and buying back stock.

There is a general bipartisan support for the tax holiday, and that will probably end up with something being approved of by politicians, although it's not a guarantee.

Some would rather fore-go the one-time event and have Washington slash the outrageous 35 percent tax on foreign revenue to a much lower rate on a permanent basis.

That way it won't become a big deal to go over what the companies did with the money the last time a tax holiday was approved.