Why do big businesses love Trump's corporate tax cuts? All you should know

While corporate America is praising the tax cuts for reviving flagging industries, the tax cut is an icing on the cake for industries reviving around crude oil

President Donald Trump’s corporate tax cuts are already having a big impact.

The main takeaway at the halfway point of earnings season is that corporations are going to make more money - lots more - as their statutory tax rate gets axed to 21 percent from 35 percent. Corporate chiefs already are making plans for the windfall, with some detailing specific investments in infrastructure or technology along with their one-time charges and benefits.

So far a record 75 percent of companies have raised their profit guidance, according to strategists at JPMorgan Chase & Co. Taking into account the benefits of