The following excerpt is from an article that originally appeared on Newsmax Economy
Former Reagan Budget Director David Stockman predicts that President Donald Trump’s grand tax-reform campaign promise will never come to fruition.
“There will not be a tax cut, there will not be a reform, there will not be a bill,” he told Fox Business Network’s Neil Cavuto.
Trump campaigned last year on a promise of comprehensive tax reform. But Republicans have made little tangible progress toward that ambitious goal so far, Reuters reported.
Republicans are determined to deliver the first tax overhaul in more than three decades. The goal is to cut tax rates for individuals and corporations, and eliminate some tax breaks to pay for the cuts.
The U.S. economy is in a steady expansion and stock markets are rising. But the tax cuts being weighed by congressional Republicans, with encouragement from Trump, are on a scale normally reserved for times of economic hardship and intended to drive annual economic growthpost was originally published on this site