Thursday the senate passed a budget resolution for 2018, clearing a major hurdle moving forward with tax reform. Along with an amendment that would allow the house to approve a budget blueprint that could be put into effect as early as next week. On Friday the S&P 500 was up about three tenths and a little bit more than half a percent on the week. This is big news that could be very influential in the remaining months of the year and the early part of 2018. It will be interesting to see how the economy will react to the new tax reform influences things.
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As much as it is controversial, I hope it brings some positive effects to the US economy, since people are waiting for some changes right now. The quarter GDP would have some changes with this tax reform.
ReplyDeleteI am excited to see how the tax credits affect the economy as well as all the cuts for small business, but overall the plan still has to be ratified by all of congress so we won't know what for sure goes into it till it actually passes.
ReplyDeleteI think this tax reform will be good for the overall economy as it has the cuts for small businesses which could allow employees wages to rise. The interesting thing to see will be how the tax cuts to the rich affect investment and the overall economy.
ReplyDeleteI agree with the tax cuts, specifically because it will give more businesses the ability to increase the labor force. With increased saving, this allows them to hire more workers and increase overall output. I think the tax cuts could not have come at a more perfect time.
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