Results shown in the previous table include
the impacts of the Tax Cuts and Jobs Act of 2017 and restructuring charges.
Kenny Dichter, Wheels Up CEO talks about providing private aviation to travelers,
the impact of the tax cut on his business, and the launch of the «Red Plane.»
So it could be argued that the market over-reacted to
the impact of the tax cut, and that this past week has been no more than a simple correction of that exuberance.
Activity was down, but banks» talk about
the impact of tax cuts and such was just a way of saying clients didn't hire them.
Part of this is down to the fall in stock prices, but part of it is also down to the increase in forward earnings as analysts have factored in
the impact of tax cuts and the bullish broader macro backdrop for earnings.
Hi Troy, I'm interested as well on
the impact of the tax cut.
Our preferred measure of the distributional
impact of the tax cut is the percentage change in after - tax income.
US companies continue to grow earnings, but it remains to be seen if the potential negative effects of a trade war with China will negate the generally positive net
impact of the tax cuts.
** GAAP EPS includes incremental expense ($ 1.03 for the fourth quarter and $ 1.04 for the full year 2017) due to the impact of significant discrete tax - related items, including amounts related to changes in tax laws (including a reasonable estimate of
the impact of the Tax Cuts and Jobs Act enacted in December 2017, as provided for in accordance with Securities and Exchange Commission guidance), and amounts related to the potential or final resolution of tax positions, and other unusual or unique tax - related items and activities.
Join members of Nixon Peabody's Nonprofits and Employee Benefits practices on Tuesday, March 27, for a webinar to discuss
the impact of the Tax Cuts and Jobs Act on executive compensation for nonprofit organizations.
«The question for 2018 is less about
the impacts of the tax cuts for consumers and corporations than about how the Fed manages the pace of monetary policy normalization amid a stimulative fiscal environment,» Duncan says.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse
impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse
impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the
impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in
tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
tax law, such as the effect
of The
Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other thin
Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or
impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
The school used the Penn Wharton budget model to analyze the revenue
impact of the House's most recent version
of the
Tax Cuts and Jobs Act, which was approved by the House Ways and Means Committee on Thursday and is set for a vote by the full House this week.
The
tax cut plan approved last year will have a disproportionate
impact on Verizon because almost all
of the company's revenue comes from inside the United States.
«There is no evidence that a
cut in corporate
taxes is associated with any significant
impact on employment,» conclude longtime U.S.
tax policy researchers Karel Mertens
of Cornell University and Morten O. Ravn
of University College London.
If any
of these state workarounds are successful, the overall
impact will be to make an indefensibly unfair
tax cut even more regressive.
Excluding items, the company reported earnings
of 78 cents per share, which included a 13 - cent
impact from
tax cuts signed into law by U.S. President Donald Trump late last year.
For 2018, AT&T said including
impacts from
tax cuts and a new accounting standard, it expects earnings per share in the $ 3.50 range, free cash flow
of about $ 21 billion and capital expenditures
of $ 25 billion.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the
impact of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature,
impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the
impact of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in
tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax (including U.S.
tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
tax reform enacted on December 22, 2017, which is commonly referred to as the
Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personn
Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
However, the
impact of U.S. corporate
tax cuts on energy M&A is uncertain, according to PwC.
The non-partisan Congressional Budget Office predicts the combined
impact of spending
cuts and
tax hikes will lead to a contraction in real GDP
of 0.5 % between the fourth quarter
of 2012 and the same period in 2013.
That's a bigger
impact than most economists expect given the skewed nature
of the
tax cuts toward wealthier people, who are more likely to save than spend.
As discussed in note (c), results
of operations for the first quarter
of 2018 were
impacted by an $ 897 million pre-
tax charge related to settlement
of a previously disclosed lawsuit with the State
of Minnesota and a $ 217 million measurement period adjustment relative to the accounting for the 2017 enactment
of the
Tax Cuts and Jobs Act.
WASHINGTON, Dec 7 - President Donald Trump's weekend remark about a scaled - back
tax cut for corporations sparked behind - the - scenes debate in the U.S. Congress, with a White House aide trying on Thursday to minimize the
impact of the president's comment.
Easy credit terms are getting through to the real economy, and there is no doubt that the monetary stimulus is partly offsetting the depressive
impact of spending
cuts and
tax hikes.
As the
impact of new
tax cuts circulates through corporate balance sheets, businesses are getting an infusion
of cash, and much
of the windfall is going toward buying back stock.
«Mark - Up
of H.R. 3996, The Temporary
Tax Relief Act
of 2007 and H.R. 3997, The Heroes Earnings Assistance and Relief Act
of 2007,» Hearing Before the Committee on Ways and Means, United States House
of Representatives, November 1, 2007; «Baucus, Grassley Tackle Alternative Minimum
Tax Relief on First Day
of 110th Congress,» Press Release, January 4, 2007; «Easing the Family
Tax Burden,» Hearing Before the Committee on Finance, United States Senate, March 8, 2001; «Revenue Proposals and
Tax Cuts in the President's Budget,» Hearing Before the Committee on Finance, United States Senate, February 28, 2001; «President's
Tax Relief Proposals: Individual Income
Tax Rates,» Hearing Before the Committee on Ways and Means, House
of Representatives, February 13, 2001; Jerry Tempalski, «The
Impact of the 2001
Tax Bill on the Individual AMT,» National
Tax Association Proceedings: 94th Annual Conference on Taxation, November 10, 2001.
Impact on oil and gas production: compared to a carbon
tax, Alberta's policy offers emitters less
of an incentive to reduce production in order to
cut GHGs, notes Leach: «assuming that the facility reduced production by 10 percent, and that emissions decreased proportionately (a simplifying assumption), the facility's emissions intensity would not change, so its carbon liability per barrel
of oil produced would also remain constant.»
Export prospects continue to support the outlook despite elevated uncertainty about the
impact of potential US policy changes, notably corporate
tax cuts and protectionist measures.
Looking forward, what is largely missing is the
impact of the Fall 2007
tax cuts, which will gain strength in terms
of fiscal
impact starting in 2008/09.
The authors include no corporate
tax detail, no recognition
of the
impact of the
tax proposal on asset prices, and no treatment
of the budget consequences
of tax cuts.
But Ernst & Young concluded that markets largely absorbed the
impacts of Trump's solar tariffs, while wind energy projects escaped subsidy
cuts under the country's recent
tax bill.
The federal government recorded a budget deficit
of $ 215.2 billion in February, up significantly from a year ago as the
impact of the GOP
tax cuts passed in December begin to surface.
A simple stock pricing model shows that the
impact of a corporate
tax cut from 35 percent to 21 percent yields a one - time increase in equity values
of 21.54 percent.
Federal Reserve officials at their January meeting believed that improving global economic prospects and the
impact of the recently passed
tax cuts had raised the prospects for economic growth and future Fed rate hikes in 2018.
«By mid-2020, we will be most vulnerable to the next recession,» Zandi said, pointing to the fading
impact of government spending and
tax cuts.
*** Represents the earnings per share
impact from a net
tax benefit of $ 124 million resulting from the Tax Cuts and Jobs Act enacted in December 20
tax benefit
of $ 124 million resulting from the
Tax Cuts and Jobs Act enacted in December 20
Tax Cuts and Jobs Act enacted in December 2017.
By contrast to the so called middle - class
tax cut which favours the more affluent, the CCB will have a positive
impact upon the lamentably high rate
of child poverty in Canada (which stood at 16.5 % in 2013), and will promote greater income equality among families with children.
Back in May 2017 at the most recent Berkshire Hathaway annual meeting, Buffett had hinted at how a potential
tax cut could
impact the bottom line
of the company.
Wymer: The market's strong rally following the November 2016 general election has continued, as global earnings expectations improved during 2017 — a sharp contrast to the weakness in recent years — and have accelerated recently, spurred by reactions to the long - term
impacts of the corporate
tax cuts.
Several key provisions
of the
Tax Cuts and Jobs Act, which became law in December 2017, are expected to have a direct
impact on the municipal bond market.
Stronger global growth and the
impacts of the U.S.
tax cuts have brightened the outlook.
He said gains to workers from a corporate rate
cut would have a far greater
impact on their living standards than the framework's proposed changes to the individual income
tax code, such as doubling the size
of the standard deduction.
A report by the White House Council
of Economic Advisers is the first official calculation
of the
tax framework's
impact and its focus on
cutting corporate rates underscores how central that effort is to the administration's overall plan.
Tax cuts always effect assets prices, regulations are estimated to account for up to 35 % of building new construction costs for homes in some locations and though federal deregulation may not impact local regulations as much it does have a multiplier effect on the economy just like a tax cut does and anticipation of an infrastructure plan the scale of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already se
Tax cuts always effect assets prices, regulations are estimated to account for up to 35 %
of building new construction costs for homes in some locations and though federal deregulation may not
impact local regulations as much it does have a multiplier effect on the economy just like a
tax cut does and anticipation of an infrastructure plan the scale of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already se
tax cut does and anticipation
of an infrastructure plan the scale
of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already seen.
Early advocates
of these type
of tax cuts argued that lower
tax rates would increase economic activity and thereby revenues. However, thereâ $ ™ s little evidence changes in
tax rates, except in more extreme cases, have a major
impact on real economic activity.
We think the short - term
impact of fiscal stimulus (
tax cuts and deficit spending) will be positive.
These may have lessened the fall in Canadaâ $ ™ s corporate
tax revenue losses, but not by much. Even worse, this
tax shifting makes the overall net
impact even more negative as any revenue gains from income shifting come at the expense
of even greater revenue losses elsewhereâ $» and fuel a race to the bottom with
tax cuts.
«The reason people are really focused on the fiscal cliff is that if no action is taken, the combined
impact of all the
tax cuts expiring,
tax relief not enacted and automatic spending
cuts that will kick in at the end
of the year is equal to between a 4 and 5 percent GDP hit to the US economy,» says Simon Roy, president
of investing tool Jemstep.
The
impact of the initial
tax cut depends crucially on the answers to these questions, but budget analysts usually have little to go on but speculation.