Despite the U.S. stock market getting an overall lift on what is largely seen as a positive move for businesses, the tax reform bill is not likely to hit President Trump’s desk in 2017. This is the view of a majority of economists polled by Reuters.
Even Mr. Market himself is standing on wobbly legs for the past two weeks as skepticism for the tax reform bill continues to grow outside and, indeed, within the Republican rank and file.
Though the House approved a nearly $1.5 trillion additional burden on the federal purse over a ten-year period, the Senate’s position is still one of uncertainty.
Of the 60+ economists polled between November 13 and November 17 by Reuters, close to two-thirds did not give their vote of confidence for the Tax Cuts and Jobs Act coming into effect before 2018.
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