This just in (WSJ):
WASHINGTON—President Donald Trump has ordered White House aides to accelerate efforts to draft a tax plan slashing the corporate rate to 15% and prioritizing cuts in tax rates over an attempt to not increase the deficit, according to a person familiar with the directive.
During a meeting inside the Oval Office last week, Mr. Trump told staff he wants a massive tax cut to sell to the American people, the person said. It was less important to him if the plan loses revenue. Mr. Trump told his team to “get it done,” in time to release a plan by Wednesday.
Is this just a thing to make the First 100 Days look better (it ends this week) or are we about to see a deal on the table? I think the ramifications of this for the US stock market’s ongoing multiple expansion are significant.
Also, remember when the GOP were all in thrall to the deficit hawks? LOL, let’s see if there are any principles at all that actually matter beyond being the party in control. Because a deficit-negative stimulus plan would have come in handy around, oh, I don’t know, 2009-2012?