Why a tax bill failure could mean disaster for the economy

Brett Ewing, Chief Market Strategist at First Franklin Financial Services, explains why.

Transcript

00:00And are there any risks you feel investors are overlooking right now?

00:05I think some of the biggest risk right now is this tax bill not getting passed through the Senate.

00:11If that were to happen, I think that'd be a disaster for the economy going into 26.

00:17And I also think if some of these trade deals, you know, going back to the tariff issues,

00:23if we don't really get some trade negotiations worked out with India and China,

00:31I know we're in talks and things seem to be making progress.

00:35But if those don't actually happen and the trade war were to escalate,

00:39that's the biggest risk to our economy right now that I see.

00:43The tax bill for everyday Americans is going to be a significant continuation

00:49of some tax cuts that were put on back in 2017.

00:55Without this, everyday Americans would certainly feel a major hit in their taxes.

01:01I believe that there are some good policies that are in this tax bill

01:05that will help lower income, such as the savings account for children.

01:12I believe that there is some cuts as far as when you look at deductions on interest,

01:18if you're buying vehicles, those are some big deals.

01:22The standard deduction, of course, would maintain itself.

01:26These really do help out.

01:28You know, I work with thousands of clients across the country.

01:32Some of them are very wealthy and some of them are not so well off.

01:36And this standard deduction has been a game changer for a lot of people.

01:40And I really believe it's important that that continues on.

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