A record-high amount of money has been repatriated back into the United States since President Donald Trump unveiled the Tax Cuts and Jobs Act.
In the first quarter of 2018, more than $300 billion went back into the country, according to the latest data from the Bureau of Economic Analysis (BEA).
The massive amount follows other positive economic news in areas such as wage increases, hiring increases, and capital investments.
“We fixed that really, really stupid thing,” said Hassett.
The names and exact amounts from each corporation that repatriated revenues were not mentioned by the BEA. But according to Fox Business, the record-high numbers reflect that CEOs are likely fulfilling their pledges to bring more money earned overseas back to the United States after the tax plan was signed by Trump in December 2017.
Americans are also happy with the positive economic news. According to a June 25 CNBC poll, 54 percent of Americans said that the economy is good or excellent. The percentage is the highest ever recorded by CNBC since the 10-year history of the survey began.
Only 43 percent said that the economy is fair or poor, also marking the lowest number ever recorded in the survey’s history.