Gas Prices Threaten US Economy's Tax Cut Boost
Salt Lake City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Despite initial tax cut optimism, soaring gas prices are eroding the expected economic boost. Average gas prices have surged by over a dollar, with further increases predicted. This energy shock disproportionately affects lower and middle-income households, potentially offsetting the benefits of tax refunds. The economy may slow to around 1.9% growth this year due to higher gas bills, but past resilience suggests it could still persevere.
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