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CNBC reports that a new study from The National Association of Business Economics (NABE) says that the recent $1.5 billion tax cut enacted by the Republican Congress and signed into law by President Donald Trump “appeared to have no major impact on businesses’ capital investment or hiring plans.” More than right out of 10 companies surveyed that thew tax cut had not changed their expenditure plans; “The White House had predicted that the massive fiscal stimulus package, marked by the reduction in the corporate tax rate to 21 percent from 35 percent, would boost business spending and job growth. The tax cuts came into effect in January 2018.”

The NABE survey also found that there could be “a further slowdown in business spending after moderating sharply in the third quarter of 2018.”
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