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Beware the Coming Economic Storm

From CTUP advisory board member David Malpass:

Whoever is inaugurated next January will face a perfect storm. The suspension of the debt limit expires Jan. 1, threatening another bad deal to avoid default and government shutdown. This year’s spending bills will likely be extended just long enough to kick the can into 2025, forcing a budget battle that only the swamp could enjoy. Tax rates will rise at the end of 2025 unless Congress and the president can agree to extend some of the expiring provisions in the 2017 Tax Cuts and Jobs Act. Equally daunting, progressive regulatory activism will also peak in 2025.”

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