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Fidelity Investments: Tax Cuts Won't Benefit All Industries

Donna Fuscaldo

President Donald Trump's tax cuts signed into law late last year are expected to be a boon for all sorts of corporations around the country, but not everyone is going to emerge a winner. There are some industries that won't benefit over the long haul from the slashing of the corporate tax rate to 21% from 35%, said Fidelity Investments' Kyle Weaver, manager of the Fidelity Advisor Growth Opportunities Fund, in a recent research brief. "There's a lot of optimism about how tax reform can improve corporate profits, but the long-term impact might not be so great for particular industries," Weaver wrote in the brief.