America’s Free-Lunch Economy Is Over
Bloomberg reports that higher interest rates mean that the next president, whoever it is, will find it much harder to reduce taxes and increase spending.
For all the bold talk of tariffs and price controls, the economic legacy of the next president will mostly depend on something far more mundane: the tax code — specifically, the 2017 Tax Cut and Jobs Act, much of which will expire next year. Whoever is in the White House, working with whichever party controls Congress, will need to decide... ...
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