CBS News: Hundreds of Companies Saw Tax Rate Plunge to 11.3% under Trump Tax Reform

The study, from the progressive Institute on Taxation and Economic Policy, reviewed financial filings for Fortune 500 companies, finding 379 corporations that reported profits in 2018 and that also provided enough data to calculate their “effective” tax rates, meaning after deductions are factored in. Last year was the first full year that the new tax law went into effect. The 11.3% effective rate is the lowest the ITEP says it has measured since 1984, when it began studying the issue.

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