US Congress seen passing tax-cut legislation by November 2018 – BBG Survey

According to the latest Bloomberg monthly poll of economists, the US President Donald Trump and his fellow Republicans are expected to push through tax cuts in time for next year’s congressional elections.

Key Findings from the survey:

Of 38 respondents, 29 expect Congress to pass tax-cut legislation by November 2018

The policy changes though are only expected to add 0.2 percentage point to the pace of GDP expansion in 2018

According to median projections from a broader pool of 71 economists, growth in 2018 to be only slightly higher than this year -- 2.3% versus 2.1%

Analysts see the economy losing momentum in 2019, with expansion falling back to 2%, contrasting with the Trump administration’s forecast of a further pickup