Gundlach says ‘strange environment’ to be cutting U.S. corporate taxes

NEW YORK (Reuters) – Doubleline Capital Chief Executive Jeffrey Gundlach, who voted for President Donald Trump, warned on Tuesday that it is a “strange environment” to be cutting U.S. corporate taxes with the economy already in its eighth year of expansion.

“A tax cut will reduce revenue and it will grow the deficit and therefore, it will probably grow bond supply, and perhaps boost economic growth,” Gundlach said on an investor webcast. “And if it does and the amount, it is going to be bond unfriendly.”

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