us ceos report record economic optimism as tax bill progresses
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US CEOs report record economic optimism as tax bill progresses

Arab Today, arab today

Arab Today, arab today US CEOs report record economic optimism as tax bill progresses

The Business Roundtable’s chairman, JPMorgan Chase CEO Jamie Dimon
Washington - Arab Today

US corporate leaders are increasingly upbeat about growth in the world’s largest economy as lawmakers prepare to enact deep tax cuts, the Business Roundtable said Tuesday.The group’s index of CEO sales projections, spending and hiring plans over the next six months hit its highest level in nearly six years.
The Economic Outlook Index rose to 96.8 points for the fourth quarter, up from 94.5 in the July-September period and the highest since early 2012. Hiring plans dipped slightly, but remained high.

CEOs project GDP growth of 2.5 percent for the year, in line with recent years but below the White House’s target of three percent.

The Business Roundtable’s chairman, JPMorgan Chase CEO Jamie Dimon, said the high hopes were pinned on Washington delivering a pro-growth agenda.

“To continue this momentum, it is critical that we enact pro-growth tax reform that will level the playing field for US business to be globally competitive,” Dimon said in a statement.

For the first time in six years, however, more CEOs cited rising wages rather than regulatory compliance as the top cost pressure for their companies.

– Rosy outlook on regulation –

After some last-minute snags, Republican lawmakers are inching towards the finish line in enacting the first sweeping tax code overhaul in three decades — despite official projections it could add $1 trillion to the budget deficit over 10 years and widespread criticism that benefits go primarily to the rich.

The House and Senate have to reconcile their different versions of the bill, which would cut corporate taxes to 20 percent from 35 percent.

Supporters say this brings the US tax regime in line with other developed countries and will encourage multinational corporations to repatriate their earnings. But effective corporate tax rates already are significantly below 35 percent, when the many deductions and loopholes are factored in.

Analyses of the Senate tax package say it will produce minimal to modest gains for the economy.

Economists at investment bank Goldman Sachs estimated this week the Senate bill could boost growth by 0.3 percentage points in 2018 and 2019, but could be minimal or even negative from 2020 and beyond.

Joshua Bolten, the Business Roundtable’s president and CEO, told reporters that Republican efforts to slash regulations and taxes “helped create the confidence for companies to increase their capital investment.”

The survey’s index for capital expenditure plans rose to 92.7 points, its highest level since the second quarter of 2011.

Source:AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us ceos report record economic optimism as tax bill progresses us ceos report record economic optimism as tax bill progresses

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us ceos report record economic optimism as tax bill progresses us ceos report record economic optimism as tax bill progresses

 



GMT 11:09 2016 Sunday ,20 November

Coldplay, Jay Z perform at India anti-poverty concert

GMT 11:25 2017 Thursday ,30 November

Actor Ahmed Helmy praises Cairo Film Festival

GMT 08:53 2013 Monday ,02 December

High turnount on Egyptian book fair in Mauritania

GMT 06:38 2017 Sunday ,12 February

Mubarak sons carefully step back into limelight

GMT 08:27 2018 Wednesday ,03 January

EU High Representative Federica Mogherini in Beirut

GMT 02:34 2017 Saturday ,16 December

NATO leaders agree to bolster collective defence

GMT 20:33 2016 Tuesday ,27 September

Bahrain Bourse Closes at 1,139.47 Points

GMT 00:21 2017 Wednesday ,13 December

US and Russia agree new Syria ceasefire deal

GMT 03:25 2017 Saturday ,19 August

May22nd-June21st

GMT 01:19 2017 Tuesday ,24 January

US President Barack Obama bids farewell

GMT 18:51 2017 Monday ,09 October

Helicopter crash causes stage cancellation

GMT 23:27 2017 Tuesday ,17 October

Iran intends to buy Russian T90 tanks Iranian

GMT 10:02 2016 Friday ,09 December

Australia's Rinehart, China group

GMT 10:36 2017 Saturday ,20 May

Jailed Samsung chief can get plenty of visitors

GMT 03:45 2017 Tuesday ,05 September

Seven Kenyan schoolgirls killed in dorm fire : minister
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday