New York — A Texas-based chain of strip clubs would go on a buying spree. A growing technology company would move fewer jobs overseas. And a regional bank would boost its spending on cyber-security. These are some of the uses of the tax savings that small-and medium-sized US companies say they would pursue if the Trump administration and the Republican-controlled Congress slashed corporate taxes as promised. Small companies pay the highest taxes and would be the main beneficiaries of such a Trump windfall. Reuters contacted the 100 largest companies by market value in the benchmark Russell 2000 index of US small-and mid-cap stocks, as well as another 50 in the Russell 2000 with no analyst coverage. None of the 17 companies that responded to Reuters queries mentioned boosting their head count. The administration has said the tax cuts would largely pay for themselves by spurring more investment and creating jobs — but companies say they would look to spend on technology that will allo...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.