Republicans pitch broad tax cuts. Is that what economy needs?
In laying down a sweeping tax reform Thursday, House Republicans have put all their trust into a central tenet of conservative thought: Tax cuts will spur growth.
By itself, it may not be that controversial an idea. But for the current US economy, it’s also not the obvious need.
In fact, a big challenge for the GOP is to show that its specific mix of tax cuts will provide enough short-term oomph to America’s economic engine now that it will have enough momentum to counter some of the long-term drag from more federal debt.
And that is an iffy proposition, economists say. It depends on two things: the timing of tax cuts and whether they make the economy more competitive.
From a timing perspective, the Republican tax cut looks odd. The economy is growing steadily. Wages
Seeking to bring profits back from overseasDo tax cuts boost growth?What’s in the plan?A question of timingDeficits matter, many sayYou’re reading a preview, subscribe to read more.
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