A significant portion of those profits were shifted overseas to avoid taxation within the US. Providing a "tax holiday" in order to repatriate those monies essentialy validates the tactic of shifting profits overseas to avoid taxation until a critical mass of dollars has accumulated so that it is politically attractive to institute another "holiday" just to bring the money home sans the tax.
This tactic is starving the US Treasury of funds needed for the People's Government to perform its functions.
This isn't the first go around with this, it is in fact becoming cyclical.
https://en.wikipedia.org/wiki/Repatriation_tax_holiday
In the meantime, these entities are parking dollars out of reach (actively removing them from circulation) instead of investing or spending them within the US.. where they would have been circulated anyway if not for the tax avoidance. They are being rewarded for removing the money and then politicians are being hailed as heroes for "convincing" them to return it by helping them avoid paying taxes to put it back in the economy it was removed from.
I fail to see how you think any of this is beneficial to the US economy.