Throughout most of the year the U.S. economy has withstood a torrent of headwinds, including escalating trade tensions with China, a severe global slowdown, geopolitical turmoil and headline-grabbing political controversy that continues to bedevil the administration. These adverse developments have taken a toll on business confidence and delivered a blow to exports and manufacturing activity, but they have not dragged down the broader economy. Although growth slowed in the second and third quarters, most believe that the long expansion, now in its eleventh year, is not about to expire. November 2019 Economic and Financial Digest
The Tax Cuts and Jobs Act (TCJA) of 2017 represented a pivotal moment in U.S. fiscal policy, primarily aimed at overhauling the corporate tax system.