John Harwood: “If ever the U.S. economy could use a strong tax cut tail wind, it could use one now as conditions weaken around the world.”
“But the tail wind isn’t there.”
“Instead, benefits from what President Trump called “the biggest reform of all time” to the tax code have dwindled to a faint breeze just 20 months after its enactment. Half of corporate chief financial officers surveyed by Duke University expect the economy to shrink by the second quarter of 2020. Two-thirds expect a recession by the end of next year.”
