Since the Tax Cuts and Jobs Act (TCJA) of 2017, the 15 largest corporate beneficiaries have collectively saved $97.5 billion in taxes during the law’s first four years.

With effective tax rates dropping from an average of 22% to just 13%, these corporations saw their profits skyrocket by 49%, totaling over $257 billion in additional earnings. However, instead of reinvesting these savings in their workforce, innovation, or broader economic growth, these companies have funneled over $839 billion into stock buybacks and dividends, rewarding shareholders above all else.

This report dives into how these corporate giants used their windfall, the long-term impact on corporate tax accountability, and the broader implications of prioritizing short-term shareholder returns over sustainable investments that could benefit the broader economy. Learn how this tax policy has shaped corporate behavior and what it means for future economic inequality.

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