Only a fraction of the 2.9% economic growth in 2018 came from the tax cuts, according to the nonpartisan
Congressional Research Service. Instead of investing profits into their own capital investment, companies
bought back a record $806 billion in shares in 2018, sending stock prices further upward. As far as tax revenue (this is from a couple years ago), The U.S. Treasury reported that from fiscal year 2017 to FY 2018, the federal budget deficit increased by
$113 billion while corporate tax receipts fell by about
$90 billion, which would account for nearly 80 percent of the deficit increase. Though the Trump administration and the Congressional Budget Office (CBO) projected corporate revenues to bounce back somewhat in FY 2019, there is no sign yet that that is happening, with 11 of 12 months having already been reported for FY 2019.