President Trump’s long friendship with New England Patriots owner Robert Kraft paid off with a choice talking point for the new federal tax legislation the president signed Friday.
In addition to his sports businesses, Kraft owns paper and packaging companies. And Trump said Kraft called him Thursday night to tell him the tax bill would pay immediate dividends.
“He said based on this tax bill, he just wanted to let me know that he’s going to buy a big plant in the great state of North Carolina and he’s going to build a tremendous paper mill there or paper products plant,” Trump said during the bill-signing...
...But Tufts University economist Michael Klein remained skeptical the tax bill will live up to the hype.
“No credible economist looking at this says it will generate the kind of growth that the administration is claiming,” said Klein, executive editor of EconoFact, which publishes analyses of public policy issues. “The deficit and debt are going to get much higher. The increase in interest rates that will be caused ... is going to put a damper on incentives for investment.”
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