How will tariffs and the Tax Act affect your business? 

Tariffs and Tax Act

How will recent tariffs and the 2017 Tax Cuts and Jobs Act affect home improvement industry pros and their businesses? For the answers, the Home Improvement Research Institute (HIRI) surveyed nearly 300 panelists across various construction and remodeling trades.

Study highlights:

  • Pros slightly favor recent U.S. tariffs (3.40 on a 5.00 scale)
  • 10% are very concerned about tariffs’ effect on business
  • 73% say tariffs increased material costs
  • 90% of pros whose tax spend decreased used savings to expand their business or bottom line (instead of distributing increased revenue among employees)

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