Thanks, Donald! Companies Feverishly Pumping Tax Cuts Into Stock Buybacks

Companies have been feverishly putting the savings they reaped from he tax breaks passed in December into their investors’ pockets this year.

Share buybacks in 2018 have averaged $4.8 billion a day, double the pace for the same period last year, according to market data firm TrimTabs. That comes following Congress’s move to slash the corporate tax rate from the highest-in-the-world 35 percent to 21 percent.