Monthly Archives: June 2018

‘Not what we expected’: Trump’s tax bill is losing popularity

By Heather Long

President Trump arrives to speak at a rally in Fargo, N.D., on June 27, 2018. (Kevin Lamarque/Reuters)

In a packed arena in Fargo, N.D., this week, President Trump’s most ardent supporters roared with approval when he talked about protecting the U.S. borders, beating the Democrats and “respect for our great, beautiful, wonderful American flag.” When Trump pivoted to the tax bill, his top legislative accomplishment, the crowd clapped — but without the fervor they had shown for many of his other applause lines.

Trump signed the tax cut legislation just before Christmas. Six months later, it is losing popularity.

American families are unsure whether they are benefiting from the tax cut, and small businesses say they are confused by the complex changes affecting them. A recent poll from Monmouth University found 34 percent of adults approve of the tax cut now, a slide from January when adults were about evenly split between approving and disapproving. And about a third of families say they are better off because of the cuts, according to polls by Politico and the New York Times.


[The final GOP tax bill, explained]

It’s too early to tell whether the tax cut is working, most economists across the political spectrum say. There has been a clear burst of optimism since the tax cut passed, especially among business owners. But that optimism has yet to translate into a substantial bounce in business spending on new factories, equipment and technology.

What’s going well after the tax cut

Supporters of the tax bill point to economic growth as a sign the cuts are working. The U.S. growth rate in the first quarter of this year came in at 2 percent, the best since 2015, and many independent forecasters anticipate the growth rate …read more

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