A New York Post editorial says a delay in Congress on taking up President Donald Trump's call for tax cuts is a "big risk."
"House Speaker Paul Ryan says lawmakers will focus first on replacing . . . er 'repairing' Obamacare and on President Trump's infrastructure plans, and only take up tax bills sometime in the spring," the newspaper's editorial board said.
"That means Trump won't be able to sign anything until before the fall — at the earliest, if no other delays pop up."
The newspaper calls "putting tax cuts on the back burner for now — a big risk."
But it notes Trump's moves on deregulation and energy should help boost the economy, but questions whether it is enough.
"The absence of any big supply-siders in the president's economic team is further cause for concern, as is the way the White House has taken to talking about 'tax relief' rather than 'tax reform,'" the paper said.
"The hunger for some details — will the cuts be retroactive to Jan. 1? — adds to the uncertainty, which is always bad for business.
"Yes, the Dow is up, thanks to optimism over the Trump program. But major tax cuts were a big part of that program — and if they don't land in good time, or turn out not to be major, pessimism can quickly return."
The paper claims that if Hillary Clinton had won, the U.S. economy would probably be facing recession soon. And it said the Obama recovery, "weak though it is, has been going on that long. It's going to take serious change to produce a boom."
It notes a lack of action, could put Democrats back in control of the House in 2018.
"Above all else, Trump promised 'jobs, jobs, jobs,' and the American people expect him to deliver," the newspaper editorial concludes. "If he doesn't, they'll start looking elsewhere for answers."
© 2024 Newsmax. All rights reserved.