The first year of the Trump tax plan was a record for stock buybacks, even though politicians had hoped most of the money these companies gained through tax cuts would be reinvested into their companies.
When President Donald Trump signed the GOP tax cut in December 2017, he said it would create "jobs, jobs, jobs." The $1.5 trillion plan took effect the next month, lowering the corporate tax rate from 35 percent to 21 percent.
The sweeping tax reform measures were supposed to spur corporations to reinvest those savings back into their own companies for research and capital expenditures such as new equipment, offices and factories.Many businesses did spend more on internal projects, at least initially. But business investment slowed later in the year, as concerns about the economy grew.worth of their own shares. And that's drawn the ire of politicians on both sides of the aisle.
Democrats have proposed limiting buybacks unless companies raise their minimum wage to $15 and agree to other employee benefits. Republican Sen. Marco Rubio
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