Firms that lobbied for the tax holiday for repatriations provided under the American Jobs Creations Act of 2004 were the largest beneficiaries of the provision. They repatriated an average of over $4 billion under the Jobs Act. Although firms that lobbied for the tax holiday repatriated large...

Recent theoretical research suggests that among U.S. firms that have reached their optimal level of investment in foreign operations some will be induced by the U.S. repatriation tax system to accumulate foreign earnings in foreign financial assets. In this paper we evaluate this behavior which...

The American Jobs Creation Act (AJCA) of 2004 provided a one-time tax holiday for firms to repatriate foreign earnings. AJCA was intended to stimulate the economy by expediting the repatriation of foreign earnings and requiring that those repatriations be invested in domestic operations. This...