Tax cuts are wonderful, but they are only half of the situation.
So I offer kisses, hugs, and thank yous for the overall reduction of the corporate tax rate; it's necessary. But it won't help with the transformation of the manufacturing sector because to benefit from it you've got to be profitable. We're in the middle of a transformation, and some companies won't make it from here to there.
So it's the right thing, but those economists who say just reduce overall tax rates and everything will be fine are just a little bit naive. Different sectors of the economy are at different points. Subsidies won't help the transformation, but the refundability of tax credits for innovation and research would help those in transformation get through the transformation.