A fresh legislative effort to allow companies to return profitsto the U.S. at a lower tax rate will likely run into the sameproblems that have dogged repatriation advocates in recent years:its cost and the lack of guarantees that it will create jobs.

Repatriation legislation introduced yesterday by RepresentativeKevin Brady, a Texas Republican, repeats most of a 2004 law. Itwould allow U.S.-based companies to repatriate, for one year,income earned overseas at a 5.25 percent rate instead of the 35percent statutory corporate rate. The money that would flow to theU.S. — estimated to be as much as $1 trillion — would spur jobcreation and investment, Brady maintains.

“This is about creating jobs, expanding U.S. businesses andstrengthening American companies,” he said yesterday in a statementyesterday about his bill, which was introduced with some Democraticsupport.