Since President Trump signed new tax cuts into law in 2017, U.S. companies have repatriated $1 trillion back to the United States, according to new data from the Department of Commerce.

“Investment banks and think tanks have estimated that American corporations held $1.5 trillion to $2.5 trillion in offshore cash at the time the law was enacted. Before the overhaul, companies were incentivized to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore. The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets,” Bloomberg News reported.

“The repatriation figures were included in the quarterly report on the current-account deficit, which narrowed by $1.1 billion to $124.1 billion in the July-to-September period. The gap is considered the broadest measure of international trade because it includes income payments and government transfers.”

The pace is still considered slow, the Wall Street Journal reported in September 2018.

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Some companies, such as Chevron Corp. and Archer Daniels MidlandCo. , have long plowed foreign profits into foreign factories, equipment and other assets that aren’t likely to move. Other companies said they need funds overseas for acquisitions, debt retirement and expansion in growing markets. Moreover, foreign regulators require banks and other financial companies to maintain substantial capital reserves abroad. Those corporations don’t plan to bring much cash home. Even without the federal government taxing new foreign income as it comes home, costs remain to moving cash across borders. Some U.S. states tax repatriated profits, and some countries impose taxes on dividends paid to parent companies.

Meanwhile, America is in the middle of its greatest stock market rally ever, The Gateway Pundite reported last week.

The markets have repeatedly reached another all-time high — more than 120 times the 2016 election.

After Trump was elected the stock markets exploded. The markets are a gauge of the economy and include expectations of the future. On Nov. 8th, 2016, the DOW stood at 18,332. Since that date, and after Trump won the 2016 election, the DOW has soared.

The DOW reached its fastest 500-point increase between major milestones under Trump. In January 2018, the DOW surpassed 26,000, and six days later the DOW topped 26,500. Under Trump, the DOW has seen the fastest 1,000; 2,000; 3,000; 4,000; 5,000; 6,000; 7,000, 8,000 and 9,000 point increases in DOW history.