CEOs Aren’t Waiting for the Tax Bill to Pass — They’ve Already Started Pocketing the Windfall

https://theintercept.com/2017/12/18/tax-bill-corporate-rate-stock-buyback/
"U.S. CORPORATIONS ARE already beginning the process of pocketing the winnings from the tax bill jackpot they expect to hit any day now, undercutting, in a remarkably public fashion, the pretense that the corporate tax cut will lead to greater investment in job creation. Since the Senate passed its version of the tax bill on December 2, 29 companies have announced $70.2 billion in stock buybacks, a maneuver that uses company cash to buy its own shares, which then drives up the price of those shares, rewarding major investors and executives whose compensation is directly tied to the company’s stock price."