Laura Davison: Rubio Tweets Tax Bill He Voted For Helps Companies Over Workers: "Florida Republican aligns himself with Democrats on tax law Stock buybacks have jumped as wages show modest increase...

...The comment by Florida’s Rubio, who voted for the tax law, echoes the message Democrats have used to criticize his party’s signature legislative achievement under President Donald Trump. They’ve said the law, which slashes the corporate rate to 21 percent from 35 percent, is a handout to corporations, which are using their savings to just repurchase more stock. Key defenders of the Trump tax plan have sought to downplay the benefit for corporations. Chairman of the White House Council of Economic Advisers Kevin Hassett said in an op-ed in April that those who described the tax cuts as helping corporations at the expense of the working class were “wrong.” Treasury Secretary Steven Mnuchin has said that buybacks help recycle capital through the economy, which ultimately is a good thing for all Americans.

Before the tax bill passed, Hassett said he expected reducing corporate taxes would spark “an immediate jump in wage growth.” Real hourly wages for all employees increased 0.8 percent in November from the prior year, according to data from the Bureau of Labor Statistics...


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