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US small-cap firms look to spend tax savings on tech, not jobs

Reuters
Thursday, October 12, 2017

NEW YORK - 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 US 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 US 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.

The administration has said the tax cuts would largely pay for themselves by spurring more investment and creating jobs.








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