Opponents of the new corporate tax cuts were right. Many companies didn’t pay the full rate before the law passed -- so they won’t see splashy reductions in 2018, according to their own estimates.
The law signed Dec. 22 by President Donald Trump lowered corporate taxes 14 percentage points, to 21 percent from 35 percent. The 24 S&P 500 companies that have shared 2018 guidance with investors are projecting an average savings of 5 percentage points.
