Returned profits don’t necessarily provide a boost for labor, according to academics. A 2004 profit-repatriation effort didn’t lead to more jobs, but instead resulted in greater payouts for shareholders, according to a paper published by the National Bureau of Economic Research.

Trump’s speech and the many arguments around it come as the administration and lawmakers are still working off a framework for tax reform — much of which remains to be filled in. For example, as MarketWatch has written, tax writers plan an immediate tax on offshore profits, but there is no clarity at what rate they’d be taxed at.

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