J.P. Morgan Scales Back U.S. Tax Cut Forecast, Pushes Out Timing

J.P. Morgan analysts on Thursday scaled back their forecast on the size of possible U.S. tax cuts and pushed out the timing for such a move as President Donald Trump and leading Republican lawmakers struggle to deliver on their economic agenda.

In a research note, the analysts said they now see $100 billion of annual debt-financed tax cuts to take effect in the second quarter of 2018. They previously forecast $200 billion of such tax cuts per year to start in the third quarter of 2017.

(Reporting by Richard Leong; Editing by Paul Simao)

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