Construction Accounting and Taxation published the latest article by Construction Leader Joseph Natarelli and Chief Construction Economist Anirban Basu in the May/June issue.
Construction Accounting & Taxation
By Joseph Natarelli, National Construction Industry Group Leader & Anirban Basu, Chief Construction Economist
The biggest issue is that we still have only five quarters of evidence regarding the impact of tax reform on business investment. Many economists forecast a downturn in 2020-2021. Presumably, business investment would soften in the context of the next recession and, at that point, it would be more difficult to make the case that the tax cuts were meaningfully more than a short-term phenomenon. In other words, it remains too soon to tell. But the early returns have been good – much better and more durable than many economists had predicted.