JPMorgan: Tax Cut Not Too Impressive

Immediately following the passage of the “Tax Cuts and Jobs Act of 2017” (TCJA), companies such as AT&T, currently seeking Trump administration approval for a Time Warner merger, was quick to provide positive reinforcement. Along with Wells Fargo and many other corporate beneficiaries of the tax plan, they announced programs to reward employees and expand jobs in the US. When Michael Cembalest looks at the situation, however, he sees a different picture. The Chairman of Market and Investment Strategy at J.P. Morgan Asset & Wealth Management looks at the budget deficit with concern as he says the tax cuts were…