Home Depot just showed who will gain the most from corporate tax cuts

With unemployment low and demand for new homes high, a company like Home Depot could be spending most of its surplus billions on raises for workers or the rollout of new stores.

Instead, the world’s largest home improvement chain this week announced that it is using $15 billion to buy back shares of its own stock, a move that will reward shareholders including chief executive Craig Menear and other top executives.

Even as lawmakers on Capitol Hill began hammering out the final version of a tax cut designed to give businesses more money to invest, Home Depot’s statement was a reminder that corporate America may have other plans for that cash.

By David J. Lynch

https://www.washingtonpost.com/business/economy/home-depot-announces-itll-use-15-billion-in-surplus-to-reward-shareholders/2017/12/07/cf5ba986-dab3-11e7-b859-fb0995360725_story.html?hpid=hp_hp-cards_hp-card-business2%3Ahomepage%2Fcard&utm_term=.7f7890876b8d