Corporations are pushing hard to bring back billions in cash now stashed overseas at very low tax rates. They argue that, in effect, they should be able to avoid paying normal taxes on huge overseas profits because all sorts of great things will happen once this money comes home.
The last time that corporations won a repatriation holiday was in 2004, and so it's worth taking a close look at the effect of this holiday back then. A Senate committee has been doing just that, crunching numbers to closely scrutiny the effect of the 2004 law.