Why the Trump boomlet may soon fade

A consumer splurge is masking big problems in the Republican tax cuts

President Trump
(Image credit: Illustrated | Win McNamee/Getty Images, Chip Somodevilla/Getty Images, iStock/chaluk)

"Why aren't the Trump tax cuts working?"

That question might seem ridiculous to Republicans. After all, President Trump promised the 2017 Tax Cuts and Jobs Act would be "rocket fuel" for the American economy — and in a way, that's what appears to have happened. U.S. economic growth has accelerated since the tax cut passed last December. And the past two quarters have shown the strongest half year of growth in four years despite rising interest rates, Trump's trade tariffs, and an economic expansion that's pretty old by historical standards.

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James Pethokoukis

James Pethokoukis is the DeWitt Wallace Fellow at the American Enterprise Institute where he runs the AEIdeas blog. He has also written for The New York Times, National Review, Commentary, The Weekly Standard, and other places.