False. Many of those who brought money back into the U.S. cut jobs. From the U.S. Treasury itself:
In assessing the 2004 tax holiday, the nonpartisan Congressional Research Service reports that most of the largest beneficiaries of the holiday actually cut jobs in 2005-06 - despite overall economy-wide job growth in those years - and many used the repatriated funds simply to repurchase stock or pay dividends.
Also, as the New York Times pointed out, using the government's own reports:
About 92 percent of it went to shareholders, mostly in the form of increased share buybacks and the rest through increased dividends.
In other words, no help to the economy.
2) whoever does it will be crucified for being easy on big business income taxes
Which Bush was but then again, this was the same guy who handed over $700 billion of taxpayer money to banks and Wall Street firms so they could pay out their bonuses. Obviously he didn't care about being crucified or what the people thought. It wasn't his money.