The Trump administration’s $1.5 trillion tax cut, which came into effect on January 2018, appeared to have no major impact on businesses’ capital investment or hiring plans, a National Association of Business Economics’ (NABE) quarterly business conditions poll found, according to Reuters.
Key points (Source: Reuters)
84 percent of respondents said they had not changed plans compared to 81 percent in the previous survey published in October.
A large majority of respondents, 84 percent, indicate that one year after its passage, the corporate tax reform has not caused their firms to change hiring or investment plans.
Just over a third of respondents reported rising employment at their firms over the past three months, up from 31 percent in the October survey. The survey’s forward-looking measure of employment slipped to 25 in January from 29 in October.
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