Tax Reform Expected To End In Whimper, Deliver Short-Term Results If Passed

Donald Trump's core personality is not likely to change, says Capital Economics US Economist Michael Pearce. When his back is against the wall with few legislative accomplishments to show voters and a potentially stagnating economy before 2020 elections, he is likely to revert to his nativist roots and a global trade war could be the result. To avoid such a problematic future, success on a Trump legislative agenda, namely with taxes, must be achieved.

“It will be catastrophic if Republicans don’t pass a tax bill,” radio host Hugh Hewitt told CNBC Friday afternoon. "They have to do it."

As tax reform in Congress is being debated – and wealthy Republican patrons in blue-leaning states are not feeling the love as they...