At Rice University's Baker Institute for Public Policy, I conduct independent empirical research on the reshaping of the investment behavior of U.S. multinationals as a result of the 2017 Tax Cuts and Jobs Act. I designed a theoretical framework linking the shift to a territorial tax system and firms' foreign cash piles to domestic capital spending and evaluated it with firm-level and macro data. Under the guidance of Dr. Joyce Beebe, I computed econometric models and translated the results into concrete policy implications and solutions.