A Major Change Is Coming to Wall Street and Corporate America

It’s a masterstroke that went almost unnoticed on Main Street.

But it has not escaped the attention of Wall Street, which will not be happy with this move by the Democrats.

In President Joe Biden’s climate change and health care bill, the Inflation Reduction Act, companies face a tax on share buybacks for the first time.

Companies will pay a 1% excise tax on the purchase of their own shares, a sort of financial penalty for this move, which is intended to return money to shareholders and boost share prices. For example, a company that buys stock worth $1 billion will pay $10 million in taxes.

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