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U.S. small-cap firms look to spend tax savings on tech, not jobs
Source:
reuters.com
- Oct 10, 2017
NEW YORK (Reuters) - 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 cybersecurity.
These are some of the uses of the tax savings that small and medium-sized U.S. 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 they 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 U.S. 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 headcount.
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Category: General Business
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