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Trump's $1.5 Trillion Tax Cut Had No Major Impact on Employment or Investment: Survey

Donald Trump's $1.5 trillion of tax cuts have had no major impact on businesses’ capital investment or hiring plans, according to a new survey. The National Association of Business Economics’ (NABE) quarterly business conditions poll, published Monday, found that 84 percent of respondents haven't changed their plans at all as a result of the cuts that came into effect in January of last year. Trump claimed that the cuts, which included a reduction in the corporate tax rate 35 percent to 21 percent, would “increase investment in the American economy and in U.S. workers, leading to higher growth, higher wages, and more JOBS!” NABE president Kevin Swift said: “A large majority of respondents, 84 percent, indicate that one year after its passage, the corporate tax reform has not caused their firms to change hiring or investment plans.”