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Ivascyn Sees No Sweeping Tax Reform, Infrastructure Spending

  • Pimco chief investment officer predicts muted Trump reforms
  • Says global fiscal, monetary, political uncertainty a concern
Bloomberg business news

Ivascyn Says Tax Reform Will Likely Resemble a Tax Cut

The Trump administration and the Republican-controlled Congress are unlikely to produce sweeping tax or regulatory reform, according to Dan Ivascyn, global chief investment officer for Pacific Investment Management Co. Infrastructure spending will also be muted, he said.

“You’ll probably get some tax reform and it will more likely resemble a tax cut as opposed to broad-based reform,” Ivascyn said Wednesday at the Bloomberg Invest New York summit. Tax changes will likely be “well pared down by what’s been proposed” because Congress will be focused on revenue, he said.