Friends of Manufacturing

Third quarter’s strong economic growth could boost GOP tax effort

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The U.S. economy expanded at a strong 3 percent rate this summer, advancing President Trump’s goal of faster economic growth and potentially providing a tail wind to Republican efforts to overhaul the tax code.

The robust pace of economic growth defied analysts’ expectations that activity might slow in the third quarter, from July through September, because of Hurricane Harvey. The economy had grown at a 3.1 percent pace in the spring as business activity picked up and the global economy showed increasing signs of strength.

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