Cathie Wood Says Trump's New Tax Cuts Will Be Like 'Reaganomics' On Steroids

Benzinga_recent_news12-09 19:13

ARK Invest CEO Cathie Wood is forecasting a historic economic boom driven by the incoming administration's fiscal policies, describing the landscape as “Reaganomics on steroids.” In a recent update to...

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According to Wood, the bill's “smartest” feature is making tax cuts retroactive rather than phasing them in—a lesson learned from the delays that slowed the initial impact of the 40th President Ronald Reagan's policies.\n“We think this is Reaganomics on steroids,” Wood said, highlighting specific provisions such as the elimination of taxes on tips and overtime pay, and a reduction in taxes on Social Security benefits.\nShe also noted the doubling of the State and Local Tax (SALT) deduction cap from $10,000 to $20,000, which offers significant relief to residents in high-tax states.\nSee Also: Trump To Provide $12 Billion Aid To Farmers Hit By Tariff Policies: Report\nThe potential impact on consumer wallets is substantial. Citing data from Piper Sandler, Wood projected that with the proposed tax relief, real disposable personal income—money available after inflation—could grow at an annualized rate of roughly 8% in the coming quarters.\nThis dovetails with President Trump’s Thanksgiving comments to U.S. service members, where he hinted that massive tariff revenues could allow the U.S. to “substantially” cut or even eliminate federal income tax.\nWood confirmed that the budget deficit is already shrinking, attributing roughly two-thirds of the $350 billion reduction to tariff inflows.\nWood believes these fiscal injections are arriving just as the economy transitions from a “rolling recession” to a “rolling recovery.”\nWhile acknowledging weak employment numbers, she argues that increased liquidity and the “One Big Beautiful Bill” will fuel a market “swish” into the end of the year, setting the stage for a prosperous 2026.\nThe SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, closed lower in premarket on Tuesday. The SPY was down 0.30% at $683.63, while the QQQ declined 0.19% to $624.28, according to Benzinga Pro data.\nOn Tuesday, the futures of the S&P 500, Nasdaq 10, and Dow Jones indices were trading mixed.\nRead Next:\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nImage via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2590348867","isCrawlerRequest":true}