Economic plan well be deficit neutral
Highlights
- National goal should be 4% economic growth
- Will cut business tax rate to 15% from 35%
- Will allow business to write off the cost of new factories
- Earnings from overseas will be taxed at 10% vs 35%
- Will cut regulations. Moratorium on new federal regulation.
- All income groups will receive a tax cut
- No TTP even if passed in lame duck session
- Repeal and replace Obamacare
- Will slash trade deficit
- Will identify every trade abuse and put an end to it
- Will renegotiate NAFTA or terminate it until a brand new deal can be signed.
- Will bring trade cases against China
How did the S&P react?
There was a waffle up and down but little in the way of a directional bias.