White House says US could reach 3 percent growth rate
The White House’s top economist said Wednesday the U.S. could achieve annual growth rates of 3 percent through the next decade if President Donald Trump’s policies on regulations and infrastructure are enacted.
The Council of Economic Advisers released its annual economic report, which praises the effects of the tax cuts and tax overhaul signed into law by Trump last December. The report forecasts an overall average annual growth rate of 2.2 percent through 2028.
But with the “full implementation of the Administration’s agenda,” including the implementation of the tax law, additional cuts to regulation and a sweeping infrastructure plan, the projected growth rate reaches 3 percent through the next decade, said the report.
The economic projections are more subdued than the bold predictions made by the president in recent months. Trump suggested in December he saw “no reason why we don’t go to 4 percent, 5 percent, and even 6 percent.”