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J.P. Morgan scales back U.S. tax cut forecast, pushes out timing
June 8, 2017 / 7:19 PM / 6 months ago

J.P. Morgan scales back U.S. tax cut forecast, pushes out timing

NEW YORK (Reuters) - J.P. Morgan analysts on Thursday scaled back their forecast on the size of possible U.S. tax cuts and pushed out the timing for such a move as President Donald Trump and leading Republican lawmakers struggle to deliver on their economic agenda.

A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files

In a research note, the analysts said they now see $100 billion of annual debt-financed tax cuts to take effect in the second quarter of 2018. They previously forecast $200 billion of such tax cuts per year to start in the third quarter of 2017.

Reporting by Richard Leong; Editing by Paul Simao

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