FedEx CEO said Trump tax cut would spur investment
November 18, 2019
FedEx’s founder and chief executive, Frederick Smith, publicly lobbied for passage of the 2017 Republican corporate tax cut. Passing the legislation, he said on a 2017 radio show with now chairman of the National Economic Council Larry Kudlow, would result in a surge of corporate investment in new equipment and other assets. FedEx spent less on capital investment and more on stock buybacks and dividend increases following passage of the bill than it had before it became law.
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