Warren Buffett says his company made billions from GOP tax reform [View all]
Source: The Hill
BY LUIS SANCHEZ - 02/24/18 12:44 PM EST
Warren Buffett said that the Republican tax law passed last year made his company billions of dollars.
“Berkshire’s gain in net worth during 2017 was $65.3 billion, which increased the per-share book value of both our Class A and Class B stock by 23 percent,” Buffett wrote in a letter to Berkshire Hathaway shareholders that accompanied the company’s annual report.
Nearly 45 percent of Berkshire's $65 billion gains in 2017 are attributed to the tax law, according to Buffett.
“A large portion of our gain did not come from anything we accomplished at Berkshire. The $65 billion gain is nonetheless real — rest assured of that. But only $36 billion came from Berkshire’s operations. The remaining $29 billion was delivered to us in December when Congress rewrote the U.S. Tax Code,” Buffett wrote.
Read more: http://thehill.com/policy/finance/375425-warren-buffett-says-his-company-made-billions-from-gop-tax-reform
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