Happy New Year! How Will Trump's Tax Plan Affect You?
Submitted by Saratoga Financial Services on January 2nd, 2018Wishing You Health, Happiness and Prosperity in the New Year!
After more than a year of political posturing and investor anticipation, Congress finally approved a $1.5 trillion tax cut, the most sweeping U.S. fiscal overhaul since 1986. The 2017 Tax Cuts and Jobs Act was signed into law on Friday, December 22nd by President Trump, meeting his pledge to deliver tax reform before Christmas.
The complex 1,000-page bill features changes that are intended to spur economic activity through a reduction in both individual and corporate tax rates, and simplify the tax code by eliminating or trimming a variety of deductions and exemptions.
LPL Research has put together a special commentary, which looks at the likely impact of the final bill on the economy, monetary policy and the financial markets in the coming years.
