U.S. economic growth is expected to accelerate this year and next, yet remain modest, even if President Trump’s promised tax cuts and infrastructure spending are implemented, a survey found.
The economy will grow a solid 2.3 percent this year and 2.5 percent in 2018, according to 50 economists surveyed by the National Association for Business Economics. Those rates would be up from 2016’s anemic pace of 1.6 percent.
Still, those rates are below the 3 percent to 4 percent growth that Trump has promised to bring about through steep corporate and individual tax cuts and more spending on roads, airports and tunnels. Most of the economists surveyed assume that a tax reform package will be approved by Congress this year. About two-fifths expect an infrastructure spending proposal to pass this year, while rest forecast it will happen in 2018 or beyond.
The survey also found that 70 percent of economists