Some tax law provisions could make for a tougher recession

Alan Auerbach quoted by Bloomberg BNA, March 13, 2018

“Legislators somehow feel that NOL recovery is sort of an inappropriate gift, whereas it really is a way of cushioning the effects of cyclical income,” he said, calling the provision a “money grab.” “Tightening the rules—getting rid of the loss carrybacks, allowing only 80 percent offset against taxable income in the future—I think that is not good for cyclical industries.”