Will marketing budgets increase with the corporate tax cuts?

We are still wondering what the effects of the recently signed Tax Cuts and Jobs Act of 2017 will be on both a corporate and individual level. While our focus at adWhite is marketing & design, not political forecasting, we have pondered a few questions as we look forward into 2018.

 
With a new corporate tax rate of 21% (previously 35%), corporations theoretically will have a surplus and if they are smart they will be investing that somewhere. The world’s largest employer, Walmart, already announced salary increases and other employee benefits as a direct result of the tax cuts.

Where will other companies be funneling that extra cash? Will it be towards hiring more people or raises or research & development? Or perhaps setting a little extra aside for marketing?

The ROI when investing in digital marketing remains on a steady increase and we are optimistic that companies, both small local businesses and large corporations, will rethink their marketing strategies now that their budgets have a little breathing room. What are your thoughts?