US politics remain in centre stage – UOB
Senior Economist at UOB Group Alvin Liew assessed the ongoing US political scenario and its prospects for the next periods.
“After Thanksgiving holiday, US Senate lawmakers will need to debate/negotiate/amend and pass the tax bill from the Senate Budget Committee, likely by 12 Dec”.
“But the significant differences between the GOP House and Senate tax bills, means that the next negotiation process of getting a unified final tax bill could be well extended into 2018 before reaching agreement”.
“In the meantime, the specter of another US government shutdown looms large (deadline by 8 Dec), and President Trump’s meeting with US Republican and Democrat leaders on 28 Nov, will start the ball rolling to potentially reach another short-term funding extension into early 2018”.