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Under the bill President Joe Biden is scheduled to sign into law Tuesday, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price.
Investors, including pension and retirement funds, like the buybacks. But critics of big corporations call the practice 'paper manipulation' to enrich executives and big shareholders.
Investors, including pension and retirement funds, like the buybacks. But critics of big corporations call the practice 'paper manipulation' to enrich executives and big shareholders.
Serving up social justice leaves sour taste for Unilever
Parents and teachers in Los Angeles have sued the Liberated Ethnic Studies Model Curriculum Consortium, LAUSD and the L.A. teachers' union, alleging Civil Rights violations.