Corporate America Is Repatriating Offshore Cash at Slower Pace

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 result of the 2017 tax law. Investment banks and think tanks have estimated that American corporations held $1.5 trillion to $2.5 trillion in offshore cash when the law passed.