Jan 16, 2018

Tax reform will add $1.7 billion to UnitedHealth Group's profits

UnitedHealth Group expects a major windfall from tax reform. Francis Dean / Corbis via Getty

UnitedHealth Group CEO Dave Wichmann told investors today the company will reap $1.7 billion in additional earnings this year thanks to the Republican tax overhaul, which slashed the corporate tax rate. The company will use that money for "accelerating" internal investments, Wichmann said, but made no mention of higher wages for employees.

Why it matters: UnitedHealth is the largest health care company on the planet with $10.6 billion in profit and $201 billion of revenue in 2017, according to its latest earnings report. The higher cash flow will add to UnitedHealth's political and financial sway in the health care system.

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Axios
Updated 32 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

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Fadel Allassan
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Kamala Harris and the political rise of America's Indian community

Vice presidential hopeful Sen. Kamala Harris (D-Calif.) Photo: Drew Angerer/Getty Images

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Why it matters: Indian Americans are one of the fastest-growing, wealthiest and most educated demographic groups in the U.S. Politicians work harder every year to woo them. And in Kamala Harris, they'll be represented in a major-party presidential campaign for the first time.

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Illustration: Annelise Capossela/Axios

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