Microsoft plans $60-billion buyback; Brad Smith appointed vice chair

Microsoft Corp., the world’s largest software maker, announced its largest ever stock-repurchase program of as much as $60 billion, at a time when U.S. lawmakers are considering a tax on buybacks.
 

The company’s recent resurgence has given it a market value north of $2.2 trillion, making it the second-most valuable publicly traded company after a 35% rise in its shares over 2021. Its previous buyback plan, unveiled in September 2019, was for $40 billion.

Microsoft’s latest purchase scheme comes after two senior Democratic senators proposed a 2% tax on corporate stock buybacks as part of a bid to help