The Trump administration has drafted preliminary economic growth forecasts in its federal budget planning that rely on assumptions that are far rosier than projections made by independent agencies and most private forecasters, according to several people familiar with the discussions.
Despite widespread criticism, border adjustment isn’t dead, and that is partly because Republicans haven’t developed palatable alternatives that avoid huge budget deficits or prevent the corporate tax base from fleeing abroad.
Applied Material saw a sharp jump in new equipment orders for the fiscal first quarter, its biggest surge in seven years. That has analysts worried about an inevitable slowdown, as Applied’s customers digest those purchases.
Neighborhood opposition and environmental regulations, many dating from the 1960s and 1970s, routinely bog down ambitious projects. The required reviews and frequent legal challenges will likely constrain the administration’s plan to spend $1 trillion on ‘highways, bridges, tunnels, airports.’