Rex Nutting: Corporations brought home $350 billion after tax cut, but they haven’t put it to work

The Trump White House is using meaningless statistics to falsely claim that its big corporate tax cut is working even better than hoped. Donald Trump’s economic adviser says the tax cut has fundamentally transformed the economy after just six months, deceptively claiming that U.S. corporations are no longer investing in their foreign operations.

Kevin Hassett, the chairman of the president’s Council of Economic Advisers, was on TV recently to expand on the administration’s big lie that cutting taxes for corporations has already pushed the economy onto a permanently faster growth path.

In the first quarter, U.S. corporations repatriated more than $350 billion in profits from their overseas affiliates in response to the new tax law.

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