House Republicans continue to push hard on their corporate tax plan that involves border tax adjustments that would redefine the taxable base for corporate income. It would disallow deduction of import costs and exempt export revenues. The White House has indicated it will publish its tax proposals in early March.
The ECB’s accommodative policy stance has been a key driver of domestic demand during the recovery, and that stance remains in place. As laid out in the ECB’s forward guidance, monetary policy will continue to support the economy and respond to future risks in line with our price stability mandate. And we will continuously monitor the side effects of our policies.