This is like a college sophomore’s worst nightmare at semester's end, when he or she hasn’t been to class or studied for finals. When the only path to finish tax reform this year is a rush job, what confidence do we have in a job well done? With the potential limelight on the new wave of sexual allegations for some of our most trusted public figures (media and politicians) spreading to the beltway, will it stop progress on all critical pending legislation? Getting nothing done won’t help the reputation of either party, so a light version tax reform at a minimum is likely to survive.
With a healthy business climate and record unemployment levels, the anticipated raises in interest rates could be pushed higher. At least the savers will see some benefit.
PS: take another look at Ebbs and Flows. The business climate of the US demonstrates the power of our economy. Tax reform should make it even more formidable.