Companies such as Chipotle Mexican Grill and Lowe's may benefit the most from the Republican Party's attempt at a national tax overhaul, Credit Suisse said.
The GOP has been scrambling to enact at least one major piece of legislation in the year following President Donald Trump's inauguration. Critical to both the Senate and House versions of the tax plan is a cut in the corporate tax rate to 20 percent from 35 percent. Such a dramatic cut could spell big gains for companies with primarily domestic businesses.
GOP lawmakers still must reconcile the House and Senate versions of the tax bill in a conference committee before sending the legislation to President Donald Trump. Significant disagreement remains between legislators in both houses, as some Republicans remain concerned over a ballooning national debt.
Credit Suisse highlighted some of the companies in its coverage with the highest effective tax rates to isolate those that may stand to profit most from a relaxed tax burden. Names span a wide range of sectors and include Broadcom, Amazon, Nordstrom and Aetna.