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