Which of the Following Statements Regarding the Tax Environment Prior

Which of the following statements regarding the tax environment prior to the TCJA of 2017 is FALSE?

A) Tax rates in the United States were among the lowest in the world.
B) Because of high U.S.tax rates,companies were encouraged to keep their foreign profits overseas rather than repatriate them
C) U.S.companies often moved their most valuable assets,and even their legal headquarters,outside the United States.
D) Tax on foreign profits were deferred until the foreign profits were repatriated to the United States.