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U.S. Cash Repatriation Plunges 50%, Defying Trump's Tax Forecast

  • Companies opt to keep funds overseas, despite tax law change
  • Trump has said more than $4 trillion will return to the U.S.
President Donald Trump
Photographer: Al Drago/Bloomberg
Updated on

The amount of offshore cash corporations are bringing back to the U.S. dropped sharply for a second straight quarter, falling short of the trillions of dollars President Donald Trump had promised would result from his tax overhaul.

Companies repatriated $92.7 billion in the July-September period, the lowest amount this year and down almost 50 percent from the previous quarter, according to data released Wednesday by the Commerce Department. U.S. corporations repatriated $294.9 billion in the first three months of 2018 and $183.7 billion in the second quarter.