The tax overhaul of President Trump has helped companies to a considerable extent.
FedEx owe more than US $ 1.5 According to the New York Times, Frederick Smith, the founder and CEO of FedEx, made great efforts in his 2017 fiscal year before the tax cut, and in the year after the tax cut, nothing in the year Handle. even submit your own proposal from FedEx.
Trump signed the US $ 1
This move reduced FedEx's tax rate from 34 percent to below zero.
|Ticker  Security||Last||Change||Change in%|
|FDX||FEDEX CORPORATION||158,33||+1,65||+ 1, 05%|
Theoretically, corporate tax would be lowered means more money for businesses investing in equipment and other assets.
A New York Times analysis compiled by Capital IQ found, for the most part, that companies with a large tax cut invested less.
FedEx's Financial Reports Show That This Is Legally Mandated So far, at least $ 1.6 billion has been saved.
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However, FedEx spent more than $ 2 billion on share buybacks and dividend increases in the 2019 fiscal year compared to the prior year.  The company has increased its workforce and raised wages for hourly employees.
"FedEx has invested billions in capital items eligible for accelerated depreciation and made significant contributions to our employee retirement plans," the Times said in a statement. "These factors temporarily lowered our federal income tax, which was the intention of the law to increase GDP, create jobs and raise wages."
Companies have already saved over $ 100 billion more in taxes than analysts had predicted than was required by law.
The law lowered the corporate rate from 35 percent to 21 percent.
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The US economy has not gotten the long-term kick hoped for by the Trump administration. Economic growth rose to 2.5 percent, but in the summer the economy grew by only 1.9 percent.