Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Photo: Chip Somodevilla/Getty Images
President Trump told reporters on Thursday he would be "OK" with a conditional coronavirus bailout that bans stock buybacks for companies that receive federal relief.
Why it matters: Trump's tax cuts set off a record-setting buyback spree in corporate America. The comments are a shift in tone, given that his deputies have defended share repurchases in the past.
What he's saying: Trump said he was "never happy" that companies were using cash to buy back stock.
- A number of companies hard hit by the halt in economic activity due to the COVID-19 outbreak are asking for federal relief. But they’re facing criticism for how much cash they spent in recent years repurchasing their own shares.
Flashback: “Even if people buy back stock, that is money that goes back into the economy that lets investors take that money and allocate it to other things. It’s a complete system,” Treasury Secretary Steven Mnuchin said in 2018.
- Larry Kudlow told CNBC last year that when companies buy back stock, money returned to investors and shareholders "will be recycled into the economy and they will start new companies, new businesses.”