A detail of a can of Coca-Cola is seen in London, Britain March 16, 2016. REUTERS/Stefan Wermuth
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Trump has insisted that the Republican tax plan cut the U.S. corporate rate to 20 percent from 35 percent. Another provision would impose an even lower tax rate on companies' stockpiled overseas earnings, giving them an incentive to return trillions of dollars in offshore cash to the U.S. That money is also unlikely to spur hiring because companies are already well-capitalized and can bring on as many employees as they need, said John Shin, a foreign-exchange strategist at Bank of America Merrill Lynch.The Trump administration has made plain its desire for companies to publicly embrace the tax legislation.One leading proponent of Trump's tax plan, JPMorgan Chase & Co. CEO Jamie Dimon, has lamented that corporate taxes weren't cut under former President Barack Obama and says companies would both return money to shareholders and invest in their businesses.Share buybacks are a way for companies to reward investors using spare cash.To be sure, some company leaders have explicitly said that corporate tax cuts would cause them to invest in jobs and wages.
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