Repatriation of Foreign Earnings Gaining Momentum

Written by  Bob Adelmann

When addressing business executives at his golf course in Bedminster, New Jersey, in August, President Donald Trump said, "We expect to have in excess of $4 trillion [in foreign earnings held overseas by American companies] brought back very shortly. Over $4 [trillion] but close to $5 trillion, will be brought back into our country. This is money that [otherwise] would never, ever be seen again by the workers and the people of our country."

The Commerce Department estimates that more than $300 billion of those profits stashed abroad were repatriated in just the first quarter of this year alone, surpassing the total repatriated in all of 2016 and 2017. White House spokeswoman Lindsay Walters said that future repatriations are coming: "There are reasons to expect that [first quarter's] pace to remain strong, as large-scale corporate financial decisions like this aren't made overnight." As Scott Levine, a tax partner at Jones Day LLP, noted, "Sometimes you just can't move cash from point A to point B by just pushing a button. We [help our clients] find ways to get the cash home, but [we're] always worried that there's something [in the new tax law] that you didn't read right."

https://www.thenewamerican.com/economy/markets/item/30091-repatriation-of-foreign-earnings-gaining-momentum

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Another President Trump win! I suppose that our lawn jockey ex-president will claim credit for this also. 

Just more proof of Trump's genius commonsense.