The battle over U.S. tax reform is being watched all over the world.
Many say a reduction in income taxes would likely increase consumer spending, creating more demand for imports. While a cut in corporate taxes could prompt American companies to move manufacturing back to the United States.
About the only thing we know for sure is that as tax reform continues to work its way through the U.S. Congress, the status quo is going to change.
CGTN’s Jim Spellman explains what can be expected.
Follow Jim Spellman on Twitter @jimspellmanTV
- Steve Pruitt, former staff director for the U.S. House Budget Committee
- Xu Sitao, chief economist and partner at Deloitte China
- Michael Johns, co-founder of the U.S. National Tea Party Movement and a former speechwriter for U.S. President George H.W. Bush
- Yukon Huang, economist and author of a new book, “Cracking the China Conundrum: Why Conventional Economic Wisdom is Wrong”
Tax reform will make Americans less healthy — and that's bad for the economy https://t.co/qHDcnnNsYP
— CNBC (@CNBC) December 8, 2017
— Yahoo Finance (@YahooFinance) December 7, 2017
Lex: US tax reform: headline heresy https://t.co/C1JGrgUFZK
— Financial Times (@FinancialTimes) December 8, 2017