Prior to passage of the Trump Tax Cut in 2017, which was made permanent last year, dozens of major American corporate employers were moving operations and headquarters out of the U.S. That was because at a tax rate of 40%, firms could cut their tax burdens in half or more by moving out of the USA – and taking jobs with them.

But as the chart below shows, that practice has ended because the U.S. corporate rate is now below the international average.

You don’t have to believe us, the liberal Tax Policy Center has declared definitively: “Since enactment of TCJA, there have been no major tax-motivated inversion transactions.”