The Supreme Court today upheld the constitutionality of the mandatory repatriation tax (“MRT”) in a 7-2 decision. The case was widely watched both for its implications on the broader existing U.S. tax framework and for its implications on whether a wealth tax might be viewed as constitutional by this Supreme Court. In a narrow ruling, the Court held that the MRT was constitutional but explicitly did not address “hypothetical” taxes, including a wealth tax.