US tax cuts have no major impact on business capex plans - NABE survey

The Trump administration's $1.5 trillion tax cut, which came into effect on January 2018, appeared to have no major impact on businesses' capital investment or hiring plans, a National Association of Business Economics' (NABE) quarterly business conditions poll found, according to Reuters. 

Key points (Source: Reuters)

84 percent of respondents said they had not changed plans compared to 81 percent in the previous survey published in October.

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.

Just over a third of respondents reported rising employment at their firms over the past three months, up from 31 percent in the October survey. The survey's forward-looking measure of employment slipped to 25 in January from 29 in October.