WASHINGTON — For most people, the tax cuts that President Donald Trump signed into law this summer have yet to materialize. Only after Americans file their taxes next year will the savings become apparent, launching what Republicans hope will be a “refund boom” that lifts the public’s view of the economy.

Many of America’s largest companies have not had to wait. In the months since the law’s passage in July, corporations like Walmart, Amazon, Verizon and Eli Lilly have all disclosed in securities filings that the law would reduce their cash tax payments in the near term. AT&T Inc. projected that it would save as much as $2 billion in taxes just this year.

Those corporate tax savings have already started to have an effect on the federal budget. Between July and November, the last full mon

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