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U.S. Banks Made $28 Billion in Additional Profit, Thanks to Trump Tax Code

HeadlineFeb 22, 2019

New government data shows U.S. banks made $28 billion in additional profit last year, thanks to President Trump’s new tax code. All told, U.S. banks made a record $237 billion in 2018. According to The Wall Street Journal, 2018 would have been a record-setting year for banks even without the additional boost from the tax bill. Meanwhile, the IRS reports the average tax refund for individual taxpayers has shrunk nearly 9 percent, thanks to Trump’s tax code.

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