What happened?
On Dec 22, 2017 President Trump said this: "People are going to go out and absolutely go wild over expensing."
The WSJ takes a closer look at investment since the corporate tax cut and finds a mixed picture.
"Through this year's third quarter, nonresidential business fixed investment grew 6.8% above the third quarter of 2017 in real terms," they write. "In the administration's telling, virtually all of the increase in capital investment this year is due to the tax law. But the more recent trends in 2016 and 2017 already pointed toward a continued increase in investment in 2018."
Stripping out rising oil and gas investment -- which is largely due to the shale boom -- and there isn't much to cheer about.
Overall, they still say it's early but with stock markets well-below where they were when the law was passed, it's not a great start.
