How Overseas Accounts Can Fund U.S. Infrastructure

You will be forgiven if you’ve forgotten how much money U.S. corporations hold in overseas accounts. After all, the Panama Papers story broke way back in April. Dozens and dozens of news cycles have passed since the revelation of records held by Mossack Fonseca, the world’s fourth-largest offshore law firm, and the names of corporations and leaders ensnared therein.

Here’s a reminder: U.S. corporations hold more than $2 trillion in offshore accounts. It’s a shame that the presidential election is occupied by other subjects (namely Donald Trump), since offshoring prevents the government from putting tens of billions of dollars to good use at home. Money that could go a long way in solving the country’s infrastructure-spending gap.