Here's What Lower Taxes Will Mean for Bank of America

Here's What Lower Taxes Will Mean for Bank of America

Stocks have been rising over the past week on hopes that Congress will be able to lower the top corporate tax rate from 35% to 20%. Few companies would benefit as much from this as big banks, such as Bank of America (NYSE: BAC).

Over the past 12 months, only five companies on the S&P 500 have out-earned Bank of America on the bottom line. The Charlotte, North Carolina-based bank has generated just under $20 billion in net income over that stretch.

Image source: Getty Images.

Continue reading

Source: Fool.com