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Share Buybacks Double Under Trump Tax Plan

February 8, 2018

Companies have doubled purchases of their own stock since President Donald Trump signed the GOP tax overhaul. The Republican tax plan slashed the corporate tax rate from 35% to 21% and made it more attractive for America’s most powerful companies to repatriate billions in overseas cash.

According to data provided by Birinyi Associates, 61 corporations have announced $88.6 billion in stock buybacks between Jan. 1 and Feb. 6, compared to the 58 companies that announced a collective $40.3 billion in repurchases over the same period last year.

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