I think there is a good chance of exactly this - cash repatriation in exchange for lower taxation on it, then using that tax revenue for partly funding the infr

I think there is a good chance of exactly this - cash repatriation in exchange for lower taxation on it, then using that tax revenue for partly funding the infrastructure projects that he's promised to create jobs. But share repurchases is a lame way to spend the money - though I'm sure the people who get to choose will favour it because it boosts their compensation directly. Trump should ask for (at least some of it) to be used on more productive things like R&D, hiring, and VC deals on long term investments that are currently underfunded.