Tax reform was a notable economic development in 2018, with changes to the codes for both corporate taxes and individual income taxes receiving substantial coverage in the mainstream press. We now have evidence confirming that these tax code changes did have a positive impact on the economy, extending the Phase B, Accelerating Growth, trend by approximately six months. We also have evidence that the boost from tax reform is waning; we will not likely see the same impact on the economy in 2019.

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