White House officials revealed on Wednesday President Donald Trump's plan for large tax cuts for repatriated offshore corporate profits and a reduction of the corporate tax rate, providing a potential windfall for companies stashing the most cash overseas and paying the most to Uncle Sam.



Fortunately for investors, Wall Street strategists have already done the leg work giving clients ways to play this big moment for the markets.



Trump's plan will propose a "one-time" lower repatriation tax rate for the more than a trillion dollars in corporate cash parked overseas. The actual reduced rate is yet to be determined, but Treasury Secretary Steven Mnuchin said it will be "very competitive."

Currently, companies must pay a 35 percent tax on international earnings brought into the U.S.



Strategas Research Partners cited in December how companies that repatriated the largest percentage of their overseas profits as a percentage of their market cap quadrupled the S&P 500's performance in the year after the 2004 repatriation tax holiday.



The firm shared and recommended its Strategas repatriation index on Feb. 7, which consists of firms with the highest percent of offshore cash relative to their market caps.



Here are five companies in the Strategas repatriation basket.

White House chief economic advisor Gary Cohn and Mnuchin also confirmed Wednesday Trump's tax proposal calls for cutting the corporate tax rate to 15 percent from the current rate of 35 percent.



Goldman Sachs strategist David Kostin in January shared a list of stocks with the highest effective tax rates that he believes will benefit the most from the lowering of the corporate tax rate.



Here are seven stocks the strategist recommended in its "high tax rate" basket.