Tags: Trump Administration | Trump Tax Reform | trump effect | business | optimistic | less regulation | growth

NYT: Businesses Spending, Investing More as 'Trump Effect' Takes Hold

NYT: Businesses Spending, Investing More as 'Trump Effect' Takes Hold
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By    |   Monday, 01 January 2018 08:25 PM

Companies across the United States are enjoying an emotional boost from the Trump administration's tax reform package, which could translate into job creation and higher wages, according to a new report.

The New York Times wrote Monday that because of the corporate tax cut that lowered the rate from 35 percent to 22 percent, businesses are feeling more confident in their futures — despite the fact that the cuts haven't yet taken effect.

The other piece of the puzzle has to do with President Donald Trump's slashing of government regulations. In 2017, he cut 67 federal regulations and created just three.

"It's an overall sense that you're not going to face any new regulatory fights," Texas homebuilder Granger MacDonald told the Times. "We're not spending more, which is the main thing. We're not seeing any savings, but we're not seeing any increases."

The U.S. economy experienced a healthy 2017, while the stock market rocketed to new highs on a regular basis.

Moody's Analytics chief economist Mark Zandi told the Times the international economy is also booming, which is great for business.

"The fundamental backdrop here is that this is a global synchronized expansion lifting everyone's spirits, from Tokyo to New York," he said. "The entire global economy is on one page for the first time in over a decade. We're all moving in sync and that has everyone feeling good, not just here but across the globe."

The Times piece also referenced America's low unemployment figures as another reason why business owners are feeling positive and optimistic.

Goldman Sachs Group Inc. economist Jan Hatzius, meanwhile, predicted GDP growth and lower unemployment for 2018.

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Companies across the United States are enjoying an emotional boost from the Trump administration's tax reform package, which could translate into job creation and higher wages, according to a new report.
trump effect, business, optimistic, less regulation, growth
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2018-25-01
Monday, 01 January 2018 08:25 PM
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