This Week in Economics: 4 Stories You Should Know About

The U.S. economy showed surprising strength in the first quarter of 2019, with initial estimates of GDP growth coming in at a solid 3.2 percent, and more significantly, year-over-year productivity growth hit 2.4 percent — the highest reading since 2010. National Economic Council Director Larry Kudlow summed it up best when he said the latest economic data shows the administration is “killing it on the economy,” and President Trump’s economic approval rating has hit a new all-time high. The U.S. economy is off to a great start this year. Here are some economic stories to look out for as we

Is President Trump Undermining His Own Tax Cuts?

The Trump giveth and the Trump taketh? During a private meeting with lawmakers last week, President Trump signaled that he would be open to a 25 cent per gallon increase to the federal gas tax.  If your car has a 16 gallon gas tank (as many do), this would cost you an extra four dollars every time you fill up your car – and gasoline prices are already rising. While a 25 cent per gallon tax may not seem like a lot of money, Strategas research found that, if enacted, “60% of the individual tax cut savings in 2018 would be wiped