General World News

Trump said tax cuts would be ‘rocket fuel’ for the US economy. Here’s why they weren’t.

Donald Trump

  • President Donald Trump said tax cuts would be the “rocket fuel our economy needs to soar higher than ever before.”
  • A little over one year after the Tax Cuts and Jobs Act was signed into law, that expectation hasn’t panned out, a new Bank of America Merrill Lynch analysis has found.
  • One reason for this is growth expectations are a bigger driver of capital expenditures than the actual cost of capital — which tax cuts theoretically lowered.
  • The analysis of the disconnect between what Republican lawmakers expected and what has transpired comes amid the longest government shutdown on record read more >>>

    Source:: BusinessInsider.Com