Nearly two years after the tax law passed, the windfall to corporations like FedEx is becoming clear. If anything, the companies that received the biggest tax cuts increased their capital investment by less, on average, than companies that got smaller cuts. Its financial filings show it owed no taxes in the 2018 fiscal year overall . Company officials said FedEx paid $2 billion in total federal income taxes over the past 10 years. As for capital investments, t he company spent less in the 2018 fiscal year than it had projected in December 2017, before the tax law passed.

Source: New York Times November 17, 2019 07:52 UTC