President Trump speaks on tax policy during a visit to Sheffer Corp. in Blue Ash, Ohio, on Feb. 5, 2018.
Companies repatriated $85.9 billion in the fourth quarter of 2018, the lowest sum for the year and down from $100.7 billion the previous quarter,Corporations are bringing back more than they did in 2017, before the tax law was enacted, when U.S. firms repatriated $155 billion. But in touting the tax overhaul, Trump predicted trillions would return to the U.S., creating jobs and spurring investment. Investment banks and think tanks have estimated that U.S.
Companies had kept much of their overseas profit offshore over the years because a 35% tax kicked in only if they brought the cash back to the U.S. The Republican tax law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets, regardless of the country where the profits sat. The repatriation figures were part of a quarterly report on the current-account deficit, which widened from $126.6 billion to $134.4 billion in the October-December period. The gap is considered the broadest measure of international trade because it includes income payments and government transfers.the tax-law changes would bring about the level of repatriation that Trump suggested.
Any claims made about how repatriated cash would boost wages and investment in the U.S. are likely overblown, according to researchers at the University of Richmond and Claremont McKenna College. “Policy changes have a relatively small impact on hiring and investment decisions if firms have relatively easy access to credit markets,” the
But Americans should be confident that he understands healthcare
He sounds like a kid on the play ground trying to out talk everyone else. Saying what ever comes in to his head. He likes to hear his own voice.
First of all I do not believe your math as you publish fake news. Second of all, that is $665 billion more investment in business and jobs than we got under Barry.
Must be a slow news day for LAT; digging deep into the anti-Trump slush pile. I'll take the $100 billion in new tax revenues, thank you.
Still a lot more then they brought in under Hussain Obama
Explains why budget deficit grows exponentially under Trump; tax flow from offshore profits only ~16% of predicted - Corporate America brought $665B of offshore profits back to US in '18; well short of the $4 trillion Trump predicted viz. 2017 tax overhaul
Sounds like a ponzi scheme the orange ape is running
HE LIED!!!!! Imagine that!!!!!!
How much did refugees and migrants send “home”?
Come on guys in LA my hometown - let’s get serious and have discussions on the homelessness here at home - over 54k let’s use our powers for good - moving forward
Obama brought back how much? Oops that right he drove it out
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