'..."More than 70 percent of this [tax cut] will be returned to workers," said White House Press Secretary Sarah Huckabee Sanders at a January press conference after the bill came into effect.

[....] Over the past year, S&P 500 companies have given their shareholders a record $1 trillion in the form of buybacks and dividends, led by Apple, Cisco Systems, and other technology giants.

Stock repurchases hit nearly $190 billion in the first quarter for the S&P 500, according to p...reliminary results from S&P Dow Jones Indices. The last time that record was set was just before the Great Recession, when companies bought up almost $172 billion of buybacks.