Rubio Wants to Curb Stock Buybacks Encouraged by 2017 Tax Law
- Florida Republican calls to end tax incentives for buybacks
- His plan would direct corporations to invest in capital assets
Senator Marco Rubio
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Senator Marco Rubio is taking on the GOP’s 2017 tax law by saying it’s encouraging companies’ rush to buy back stock, hurting the economy.
The Florida Republican, as chairman of the Senate Committee on Small Business and Entrepreneurship, Tuesday that would curb incentives for companies to use excess capital to buyback shares, a move that investors like because it can increase the stock price.