Republicans reveal final tax plan details

In a race against looming alterations to the tax code, Goldman Sachs handed out nearly $100 million worth of stock awards to some of its top executives.

According to public filings posted Friday, ten Goldman executives — including CEO Lloyd Blankfein along with much of the company’s C-Suite — were each scheduled to receive a batch of stock awards in January.

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however the company decided to deliver the stock grants in December instead. The awards are worth a combined $94.8 million, the filings indicate.

Goldman said the idea moved the awards into 2017 because of “alterations in U.S. tax law.” By paying them before January, the bank will save money on its tax bill.

The bank did not respond to requests for comment.

Related: Tax overhaul costs Goldman Sachs $5 billion

The fresh law marked the most sweeping overhaul of the U.S. tax code in 30 years. the idea included a big cut to the corporate tax rate, lowering the idea to 21% via 35%.

however the idea made many additional alterations, along with companies are scrambling to adapt. The law was signed by President Trump just before Christmas along with most provisions go into effect on January 1.

One provision alterations how much companies can deduct for the compensation they pay executives, said Jared Walczak, a senior policy analyst at the nonpartisan Tax Foundation.

Related: America’s tax change is actually costing foreign companies billions

Under current law, companies can only deduct up to $1 million per executive, however performance-based pay is actually excluded via the cap. however starting January 1, in which performance-based compensation will count toward the $1 million.

in which will effectively remove the tax incentive for companies to tie pay to performance, while keeping base salaries under $1 million.

In a related move, Netflix (NFLX) also reacted to the fresh tax law by changing its executive compensation plan for 2018.

The company said in a public filing posted Thursday in which the idea’s going to start paying some of its top executives higher salaries, along with tie less of their compensation to performance, citing the law change.

sy88pgw (fresh York) First published December 29, 2017: 6:13 PM ET