15 Big Corporations Used Trump Tax Cuts to Pump $839 Billion Into Buybacks, Dividends | Common Dreams
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"There's nothing to be gained for everyday Americans by doubling down on the Trump corporate tax breaks—a historic mistake that added trillions to the deficit while threatening critical priorities like Social Security and Medicare."

The 15 corporations examined in the new report are Verizon, Walmart, AT&T, Meta, Home Depot, Intel, Comcast, Walt Disney, Visa, Capital One Financial, Lockheed Martin, Amazon, Lowe’s, United Parcel Service (UPS), and Texas Instruments.

Collectively, according to the Accountable.US report, those companies saw their profits surge by over $257 billion and have spent over $464 billion on stock buybacks and $374 billion on dividends since the passage of the Trump-GOP tax cuts. Large shareholder payouts in the form of share repurchases—which are on track for a new U.S. record in 2024—have been linked to mass layoffs.

In the years preceding enactment of the 2017 law, which cut the statutory corporate tax rate from 35% to 21%, the 15 corporations studied in the new analysis paid an average effective tax rate of 27%. In the four years following the law’s passage, the companies paid an average effective rate of 13%.