New Tax Cuts: Immediate Impact to Credit Expected?
As economists, we study the historical impacts of natural disasters, changes in government policy or actions by central banks so that we can make an educated ‘guess’ as to how the economy might respond to similar situations in the future. The new change in federal tax law is one such example.
As part of our macroeconomic overview during the Q1 U.S. Economic & Credit Trends Outlook webinar on March 1, we took a brief look at the temporary tax cuts related to the stimulus bill from the 2008 recession to see how large the impact might be on consumer spending and credit demand.
- What are some of the relevant tax changes affecting consumers?
- How might these changes impact consumer credit?
- What will the potential impact be to card and auto tradelines? Mortgage?
We will then highlight overall trends in consumer credit and end with a look at early payment performance on recent vintages for key tradelines. This insight provides a good barometer for lending conditions in the current economic climate.
Join Amy Crews Cutts, Equifax chief economist as we explore these topics and more in our Q1 Economic and Credit Trend Outlook Webinar from Equifax.
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