Thanks, Uncle Sam! After tax cuts, Texas Instruments spent $5B on stock -- three times more than R&D

What did corporate America do with its big tax cut? It spent over $800 billion on company shares last year, pushing stock buybacks to their highest level ever.

Close to home, Texas Instruments paid $5.1 billion to repurchase shares in 2018 — twice as much as the year before and more than any Texas company in the S&P 500.

TI’s effective tax rate dropped from 39% in 2017 to 17% last year, thanks to corporate tax cuts approved in late 2017 by Republican lawmakers and President Donald Trump.

The tax measure, which had broad support from American businesses, has been Trump’s signature legislative achievement. It prompted several large companies to hand out $1,000 bonuses to workers, and supporters said it would spur business investment, higher wages and a stronger economy.

Read more: https://www.dallasnews.com/opinion/commentary/2019/06/23/thanks-uncle-sam-after-tax-cuts-texas-instruments-spent-5-billion-stock-three-times-rd