An important element of the Tax Cuts and Jobs Act (TCJA) was an effort to repatriate, or bring back, cash that was held in overseas accounts. By lowering the barrier to repatriation of overseas profits, tax law writers hoped to encourage corporations to bring back their overseas holdings and reinvest them in the United States. Yet despite the fact that cash repatriation more than quadrupled in 2018, media outlets are seizing on poorly thought-out statements from the White House to declare repatriation a failure.
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