This statistic provides a breakdown of how the estimated tax savings of companies in the United States from the Tax Cuts and Jobs Act will be spent by those companies in 2018. The estimated tax savings for the financial year of 2018 total at 54.5 billion U.S. dollars. It is estimated that companies will allocate around 21.1 billion of that figure to stock buybacks or increasing dividends. In contrast, it is estimated 8.1 billion will be spent on employees through means such as additional wages and bonuses.
Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type
(in billion U.S. dollars)
These figures are based on a tax saving of 54.5 billion U.S. dollars across companies in the United States from the reform plan legalized in late 2017. Figures are therefore estimates of how companies will spend the projected tax saving in 2018.
*Refers to the reformed tax plan signed into law on December 22, 2017 under President Donald Trump. It's official name is the Tax Cuts and Jobs Act.
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Bloomberg. (March 5, 2018). Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/
Bloomberg. "Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type (in billion U.S. dollars)." Chart. March 5, 2018. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/
Bloomberg. (2018). Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/
Bloomberg. "Estimated Company Spending of First Year Tax Savings from Trump's 2017 Tax Reform Plan* in 2018, by Spending Type (in Billion U.S. Dollars)." Statista, Statista Inc., 5 Mar 2018, https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/
Bloomberg, Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type (in billion U.S. dollars) Statista, https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/ (last visited August 25, 2024)
Estimated company spending of first year tax savings from Trump's 2017 tax reform plan* in 2018, by spending type (in billion U.S. dollars) [Graph], Bloomberg, March 5, 2018. [Online]. Available: https://www.statista.com/statistics/818016/company-spending-from-2017-tax-cut-savings-in-2018/
