Tax Reform May Not Spur Retail Spending

Now that this year’s tax deadline has passed, are consumers planning to spend their cash saved from the TCJA’s individual tax cuts? Retailers shouldn’t expect a windfall in sales anytime soon, according to data from the 2018 BDO Consumer Beat Survey. While most consumers report their take-home pay has not increased since tax reform was enacted, those who have seen an uptick plan to spend their money on food, entertainment, and tech products.

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