After the 2008 financial crisis and again after the 2018 tax law which lowered corporate tax rate from 35% to 21%, an increasing number of U.S. publicly traded firms announced stock buyback (repurchase) programs. Congress suspected that firms which will get financial help from Coronavirus $2.3 trillion stimulus package may use part of the money to buyback its own stock and thus put restrictions on usage of aid money for stock buybacks. Please explain what benefits or rationale, if any, firms see in stock repurchases and how would investors react to these repurchase programs. You would want to use your understanding of chapter 14 stock repurchase discussion in your answers.