image: Evan Vucci/AP

Trump claimed the tax bill would lead to a huge boost in business spending – but there’s no sign of it yet

March 27, 2018

Republicans’ pitch on tax cuts was fairly clear: Lower rates on corporations would spur investment and create new jobs.

A new survey published by the Federal Reserve Bank of Atlanta in conjunction with Stanford University and University of Chicago Booth School economists shows the new policy measures have done little do bolster corporate investment plans.

“In our February survey—which was in the field from February 12 through February 23—we asked firms, ‘How has the recently enacted Tax Cuts and Jobs Act led you to revise your plans for capital expenditures in 2018?’ The results shown below—restricted to the 218 firms that responded in both November 2017 and February 2018—suggest that, if anything, these firms have revised down their expectations for this year.”

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