They did bring it back at the 5.25% rate
The problem was, all the money they've earned since then they've kept overseas because they figured if they waited long enough they'd get another tax holiday.
Changing the repatriation rate and having the holiday be not all that much smaller is probably the best you can do to cure this situation. While it is possible some companies will keep some of their money overseas hoping to do better than 14.5%, the smaller the spread between the normal rate and the "hoped for tax holiday" the less it is worth waiting.
At least we're avoiding the sham that this is a job creator like the first time. The money goes to the shareholders in one form or another. Some shareholders might use that money to create jobs, but the people who are making millions off the repatriation dividends are mostly flush with cash anyway so if they had a business idea that was going to create jobs they would have already done it.
Whether one thinks the normal top corporation tax rate is too high, or that overseas earnings should be taxed at the same rate is one thing, but it was obvious to everyone with a brain that the repatriation holiday would have this effect - bring a bunch of money back then, and much less in the future as they waited for another. Basically all it did was help make the deficit look better in an election year. Hardly the first time incumbent politicians resorted to something so crass and calculated.