A new study has cast doubt on claims from legislators and lobbyists that a tax holiday for multinational corporations on their repatriated foreign earnings would spark an economic revival in the U.S.

The study analyzes the impact of a tax holiday that was tried in 2004 and finds that it mainly benefited mature companies that already had the means to create jobs at home. The study was written by Lillian F. Mills, a professor at the University of Texas at Austin, who carried out the research with Susan M. Albring, an assistant professor at Syracuse University, and Kaye J. Newberry, a professor at the University of Houston. It appears in the new issue of The Journal of the American Taxation Association, published by the American Accounting Association.

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