The GOP insists tax cuts will help workers. CEOs have other plans.

The bill is moving forward. No Images? Click here         Republicans Insist Tax Cuts Will Benefit Workers, But CEOs Have Other Plans Republicans insist their tax cut bill will benefit workers, though the legislation has few provisions that directly benefit people with modest incomes in the long run. Instead, the core of the bill is a huge cut to corporate taxes, bringing the top rate down from 35 to 20 percent. Republicans say workers will be better off if corporate executives and shareholders have more money. A number of top CEOs, however, have signaled they plan to reward their investors instead. Instead of hiring more workers or increasing wages, executives from major companies including Cisco Systems, Pfizer, Coca-Cola, Amgen and Honeywell have said they plan to use the windfall from the corporate tax cut to first increase stock dividends or to buy back shares. “I hope they’ll do the right thing. What we want corporate America to do is what the smaller companies do,” Sen. Richard Shelby (R-Ala.) said. “I believe a lot of that will go on, rather than buybacks and stuff like that. I hope that’s what will happen. We have to work the high road, and hope they do that. Some won’t, but I think a majority of the people will invest in the future and grow the economy.” Sen. John McCain (R-Ariz.) said Thursday that he will support the Senate tax reform bill. McCain is one of the last GOP senators to commit to supporting the proposal. At this stage, the tax plan would pass under special budget rules if Republicans lost two votes, even if all Democrats and independents were to oppose it. READ MORE     WHAT ELSE IS HAPPENING? House Minority Leader Nancy Pelosi is calling on Rep. John Conyers to resign over sexual misconduct allegations. READ MORE The White House is reportedly considering replacing Secretary of State Rex Tillerson with CIA Director Mike Pompeo. READ MORE Alabama Senate candidate Roy Moore co-authored a 2011 study guide that promoted "Biblical patriarchy." READ MORE    .     ICYMI Experts are really, really worried about the state of the 2020 Census -- and it could have especially severe consequences for people of color.   Here's how a set of anti-Muslim videos probably ended up in President Trump's Twitter feed.   A year after Trump's Carrier deal, U.S. companies are still offshoring plenty of jobs.    . Want more?  Susan Collins: ‘No Reason To Be Concerned’ That Trump Is Unhinged 2 More Women Accuse Al Franken Of Sexual Misconduct Report: Jared Kushner Met With Special Counsel To Talk About Michael Flynn And Russia     How will Trump’s administration impact you? Sign up for our email and find out. Did a friend send you this? Subscribe here. Like what you see? Share it. Want more? Here are two other newsletters you'll love: The Morning Email and Must Reads. ©2017 HuffPost | 770 Broadway, New York, NY 10003 You are receiving this email because you signed up for updates from HuffPost Feedback | Privacy Policy | Unsubscribe    . - - Preferences  |  Unsubscribe