Companies bought back a record $223 billion of their own stock last quarter — even though Congress has been criticizing the practice

Rep. French Hill, an Arkansas Republican and member of the House Financial Services Committee, wrote in

But the political debate hasn't discouraged public companies from repurchasing their stock — and lots of it. That was the fourth consecutive quarter of record S&P 500 company buybacks, the longest such streak in the two decades the firm has tracked the activity.Companies are on pace to shatter records for share buybacks — and their behavior is dispelling a few key myths about the stock market

"Companies continued to spend more of their tax savings on these share repurchases as they boosted earnings through significantly reduced share counts."Which corporations are actually executing the buybacks? Most of them. Last year, 444 companies in the S&P 500 repurchased shares, up from 424 in 2017.

Paul Ryan’s America.

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