Former Treasury Secretary Rubin Agrees Tax Reform Would Boost Growth

Former Clinton Treasury Secretary Robert Rubin told CNBC on Thursday the kind of tax reform promised by President Donald Trump and House Speaker Paul Ryan would boost economic growth.

The basic rate of growth for this year and next year is around 2 or 2-¼ percent, Rubin said on “Squawk Box.” “Though people are lowering their estimates lately,” he added.

Tax cuts would provide “some stimulus” to get growth to about 2-½ percent growth, “something like that,” Rubin said. He questioned, however, whether the Republican-controlled White House and Congress can deliver on their tax-reform promises.

The polarizing border adjustment tax provision that’s part of the House GOP’s overall plan to reduce corporate taxes is ” bad policy,” Rubin said. “The probability of the border tax happening is remote.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza