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Corporate America Is Repatriating a Fraction of Foreign Profits

June 20, 2019, 1:11 PM

Corporations brought $100.2 billion of overseas profits back to the U.S. in the first quarter, marking $876.8 billion that has returned since Congress overhauled the international tax system and prodded companies to repatriate more.

The cash that has come back to the U.S. 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 U.S. corporations actually held $1.5 trillion to $2.5 trillion in offshore funds at the time the law was enacted.

Before the new tax law, companies kept much of their ...