TIME: How Big Business Is Cashing In On Trump's Tax Cuts

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2. Thank you and - Stock buybacks set $942.5B annual record, list at link...

https://www.empower.com/the-currency/money/stock-buybacks-news

"S&P 500 companies are returning more cash than ever to shareholders.

Some of the biggest names in business returned $1.6 trillion to investors in 2024 — three-fifths of which came in the form of stock buybacks, and the remaining in dividends.1 In Q4 buybacks were up 7.4% from Q3 and, by the year’s end, buybacks set an annual record of $942.5 billion, according to new data from S&P Dow Jones Indices.2 "

More here ...

https://press.spglobal.com/2025-03-19-S-P-500-Q4-2024-Buybacks-Increase-7-4-and-2024-Expenditure-Sets-New-Record-by-Increasing-18-5-Earnings-Per-Share-Increases-from-Buybacks-Decline-for-the-Quarter,-as-Q1-2025s-Impact-is-Expected-to-Increase


"Key Highlights:

Q4 2024 share repurchases were $243.2 billion, up 7.4% from Q3 2024's $226.6 billion expenditure, and up 11.0% from Q4 2023's $219.1 billion.
For the full year 2024 buybacks set an annual record of $942.5 billion, up from $795.2 billion in 2023; the 12-month peak was in June 2022 with $1.005 trillion.

1% Buyback Excise Tax:

The 1% excise tax on net buybacks reduced Q4 2024 operating earnings by 0.37%, down from Q3 2024's 0.42% and down from the 0.44% for Q4 2023. The 2024 impact was 0.44%, up from 2023's 40%. The tax on As Reported GAAP earnings impact increased to 0.50% in 2024 from 2023's 0.47%.

Silverblatt added: "The 1% tax remains a manageable expense and has not impacted overall buybacks at this point...."