How will the new Congress affect middle market companies?
NAFTA modernization, tariffs, taxes and more
Watch the full 2019 economic outlook series featuring RSM Chief Economist Joe Brusuelas.
"The primary takeaway from the elections is that we will have continued gridlock in Washington,” says RSM Chief Economist Joe Brusuelas. “NAFTA modernization was a mixed bag,” though will provide “more business and more opportunities for middle market firms in Mexico, the United States and China. … However, if there is no resolution to tariffs and other trade issues in early 2019, we will have moved from a trade spat, to a full trade war."
On taxes, “While we will see some movement to make very fine adjustments to last year’s tax cut, one should not expect to see tax cuts that are temporary to be made permanent in the 116th Congress.”