US tax cut fails to boost investment: Xinhua

The massive corporate tax cut passed by the US Congress in late 2017 has done little to boost investment hiring, according to a survey conducted by the National Association for Business Economics.

The survey released yesterday noted that US firms saw improved profit margins in the third quarter of 2018, but the massive tax cut from 35 percent to 21 percent initiated in December "has not broadly impacted hiring and investment plans."