Corporations can use their money in 3 ways:
1. Reinvesting
2. Paying dividends to shareholders
3. Buying back stocks
They do number 3 to jack up their stock price. If that gets banned, they will be forced to do the other two. If they reinvest, that means more money for their employees. If they do dividend payments, that's still a benefit for anyone, including employees, who hold stocks in the company.
Please for the love of God, I hope stock buybacks are banned. But they won't because corruption corporate lobbying, so at least I hope it gets limited.