A majority of North American CFOs (54.2 percent) say they support the passage of the Tax Cuts and Jobs Act, which the Senate is expected to vote on Friday, but they also revealed a truth about the limits of trickle-down economics that won't make American workers happy: If tax reform passes, don't expect a raise.
Only one-third of CFOs (33.4 percent) said they think corporate tax reform will lead to increased wages for workers. Twenty-one percent of CFOs said the tax-reform plan will not lead to higher wages, while 45.8 percent were ambivalent or were uncertain of the bill's effect on worker pay.
CFOs are confident that the bill's reforms will have a positive impact on U.S. economic conditions. In addition, 70.9 percent agree (29.2 percent strongly) that corporate tax reforms will create more U.S. jobs, while 83.3 percent agree (20.8 percent strongly) that corporate tax reforms will stimulate U.S. economic growth.