Tax reform must happen this year! Or so says President Trump, who’s made it especially clear to his advisors that this is a top priority for his administration.
Head of the National Economic Council (and former number two man at Goldman Sachs) Gary Cohn is in a better position to judge whether this will actually be the case, and Stuart Varney of Fox Business presses him hard in this clip about a specific timeline and if recent job numbers for March (which were roughly half of what had been expected) are more of an impetus to make tax reform happen sooner rather than later.
The fact of the matter is that tax cuts stimulate business and growth, and the already significant churning of the economy could progress at an even faster clip the quicker tax cuts (especially on business) are enacted. While the failed repeal and replacement of Obamacare and the confirmation of Supreme Court Justice Neil Gorsuch have taken more time than they were supposed to, there still may be a chance to get tax reform in place before the August Congressional recess — as long as other matters don’t rear their heads between now and then.
Watch as the upbeat Cohn smiles, and gives some insight into what we can expect to see in the upcoming release of Trump’s tax plan.
