According to a report from Investors.com, citing an analyst from Deutsche Bank, General Electric (GE) could be “left out in the cold” while other U.S. companies, including fellow industrial conglomerates, benefit from a tax windfall, according to an analyst.

The report notes that the GOP tax package cuts the current corporate tax rate from 35% to 21%. But Deutsche Bank says GE could end up a “significant net loser” because the plan also calls for a 15.5% repatriation rate on earnings held offshore as cash, and 8% if overseas profits are invested in non-liquid assets, such as plants and equipment.

According to the report, the repatriation tax would be mandatory, which could cause GE to end up owing up to $9 billion in new taxes, or an average of $1.1 billion for the next eight years, on $82 billion in foreign earnings reinvested abroad.