Corporate America is repatriating offshore cash at slower pace

U.S. CORPORATIONS are not bringing profits back from overseas locations at the rate that designers of the 2017 tax law update had expected. So far, slightly less than $1 trillion has been moved back to the United States, compared with the $4 trillion that was predicted by President Donald Trump. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
U.S. CORPORATIONS are not bringing profits back from overseas locations at the rate that designers of the 2017 tax law update had expected. So far, slightly less than $1 trillion has been moved back to the United States, compared with the $4 trillion that was predicted by President Donald Trump. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
WASHINGTON – Corporations brought $88.3 billion of overseas profits back to the U.S. in the second quarter, marking nearly $1 trillion that has returned since Congress overhauled the international tax system and prodded companies to repatriate offshore cash. The sum so far falls short of the $4 trillion President Donald Trump said would return as a…

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