GOP lawmakers in D.C. are poised to move tax reform forward.
Univest Senior Vice President of Wealth Management, Bill Van Sant says, talk of tax reform now and before the election has had an impact on wall street.
“Any time there is policy talk about cutting taxes, the stock markets seem to really react well. It’s not reacting as positively right now, but it’s not negative, it’s flattening just a bit up. Again, it’s already priced into the market, but we’re starting to get a peek under the hood as far as the details that they’re not too inconsistent to what was promised, again during the election and right after the election. As far as the promises of achieving six percent economic growth as a result of this could eb a bit lofty.”
Van Sant says, the tax reform process will take time, but he adds, corporations will benefit when the process is completed. The GOP’s goal is to drop the corporate tax rate from 35 to 20 percent, which Van Sant says, will put U.S. companies on a even playing field with international corporations. Democratic leaders in the D.C. the Republican oppose tax reform measure, saying it will hurt the middle class and low wage earners. Van Sant was a guest on WNPV’s Comment Please By Univest Wednesday.