Trump Import-Tax Hike Counters Income-Tax Relief, Economists Say
Trucks cross the Vincent Thomas Bridge at the Port of Los Angeles in San Pedro, California.
Photographer: Patrick T. Fallon/AFP/Getty ImagesThe rapidly evolving outlook for US economic growth is boiling down to a tale of two tax policies.
President Donald Trump, his lieutenants and Republican lawmakers all argue that the sweeping tax bill now wending its way through Congress will spur investment and spending, helping unleash a new golden age for the American economy. And private-sector economists broadly agree the legislation, which adds new benefits to an extension of the 2017 income-tax reductions, will be a growth booster.