New grist in tax-cut debate is $800B buyback estimate

PRESIDENT DONALD TRUMP holds up the tax overhaul legislation after signing it on Dec. 22, 2017. JPMorgan Chase analysts estimate that stock repurchases will hit a record $800 billion this year, much of it financed by the tax overhaul. / BLOOMBERG NEWS FILE PHOTO
PRESIDENT DONALD TRUMP holds up the tax overhaul legislation after signing it on Dec. 22, 2017. JPMorgan Chase analysts estimate that stock repurchases will hit a record $800 billion this year, much of it financed by the tax overhaul. / BLOOMBERG NEWS FILE PHOTO
NEW YORK – Flush with cash from President Donald Trump’s tax overhaul and bathing in more earnings than they know what to do with, U.S. companies are embarking on a buyback binge of historic dimension. How big will it be? JPMorgan Chase & Co. strategists led by Dubravko Lakos-Bujas estimate that gross share repurchases will…

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