(MENAFN) In a bid towards finding a way to mend the damage of financial crisis and economic recession in the US, cutting taxes on business investment was seen an effective way of economic stimulus, The Peninsula reported
Minneapolis Federal Reserve Bank President said that even an apparently permanent damage to the economy can be fixed only if policymakers are willing to take serious steps.
He said: "The future course of the US economy is not predetermined by the events of the past seven years.
Policymakers can use reduction in the tax rate on physical investments to reverse the decline in business investment and increase the overall growth, as long as they are willing to make tradeoffs, including drop in consumer spending
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