President Trump and Republican lawmakers promised an economic boom in the wake of their tax cut package in 2017, but growth rates have remained below 3% annually – well below the 5% touted by the president and the 6.7% rate required to pay off the cost of the cuts.
On Thursday, Trump’s Council of Economic Advisers released its annual Economic Report of the President, which projects economic growth of 2.4% this year and 2.3% the next.
Faster growth would require policy changes, the economists said, including more tax cuts, more deregulation, immigration reform or an infrastructure package.
“Most of these policy changes require Congress’s help, an unlikely scenario as long as Democrats control at least one chamber of Congress,” The Washington Post’s Heather Long says.
