May 26, 2017 / 7:21 PM / 2 months ago

BRIEF-Moody's says US budget proposals show no path for tackling longer-term fiscal challenges​

2 Min Read

May 26 (Reuters) - Moody's :

* Moody's says US budget proposals show no path for tackling longer-term fiscal challenges​

* Moody's says U.S. Administration's 2018 budget proposals give no indication of how it plans to address country's longer-term fiscal vulnerabilities

* Moody's says expects that some unfunded tax cuts will ultimately be implemented, which is likely to bring forward the weakening in US fiscal strength

* Moody's says ‍​future direction of U.S. credit profile will rest mainly on evolution of fiscal strength, largely determined by trends in federal deficits, debt

* Moody's on U.S. Budget proposals says "Expenditure cuts proposed by the white house would be politically challenging to pass into law"

* Moody's says if U.S. Budget were to be implemented in its current form, U.S. fiscal position would not improve

* Moody's says overall, U.S. Budget proposal's significance lies in absence of indication of how longer-term fiscal vulnerabilities will be addressed

* Moody's says U.S. Budget's 10-year forecasts for major streams of tax revenue are at odds with historical record and the policies that administration has advocated ‍​

* Moody's says U.S. Budget proposal relies largely on cuts to Medicaid, non-retirement social security benefits, this approach unlikely to yield administration's deficit-reduction goals Source text for Eikon:

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