Opinion: Despite unprecedented monetary tightening, the 2017 tax cuts breathed new life into the U.S. economy, write RepKevinBrady and Lawrence B. Lindsey
The current mantra from opponents of the 2017 Tax Cuts and Jobs Act is that the strong economic growth that followed is the result of a “sugar high.” Many now wrongly argue the U.S. is headed for a sharp economic slowdown, possibly even recession. These arguments reflect political and ideological wishful thinking, not a substantive analysis of what is happening in the economy.
The nonpartisan Joint Committee on Taxation expected the benefits of the tax cuts to peter out after a year. It argued that the tax law would stoke...
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