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Handed $30 Billion, Corporate America Is Splurging on Everything

  • During the first quarter, tax cuts didn’t change behavior much
  • S&P 500 companies continue upping capex, buybacks and cash

The corporate tax cut put some $30 billion into the pockets of America’s largest companies in the first quarter. How’s it being spent?

Not necessarily the way President Donald Trump and Republicans said it would. They sold the cut as a means for companies to spur investment in America and create jobs.