Thanks To Tax Cuts, Companies' Overseas Profits Now Flooding Back To U.S.
Tax Cuts: They said it wouldn't happen, but it did: The money companies stashed overseas to protect them from high U.S. corporate tax rates is flooding back in, boosting growth, jobs and confidence in the economy. Thank the Trump tax cuts.
All told, the Bureau of Economic Analysis (BEA) reported, some $305.6 billion returned to the U.S. from overseas accounts. That's a $1.2 trillion annual rate, and far more than the $35 billion one year before.
The BEA's analysts explain why this happened: "The large magnitudes (of inward capital flows) … reflect the repatriation of accumulated earnings by foreign affiliates of U.S. multinational enterprises and their parent companies in the United States in response to the 2017 Tax Cuts and Jobs Act."
In short, the Trump tax cuts did it.
https://www.investors.com/politics/editorials/overseas-profits-return/