Ellen Zentner

It's really hard to not take advantage of that.

But is this a false start?

Because now you have the conflict in Iran.

You've got energy prices, input prices for businesses, and they're going to have to eat a good chunk of that.

Does that negate some of your decisions that you were going to make to invest?

I think they will still take advantage of the One Big Beautiful Bill Act.

But this is what...

As soon as we're able to look beyond the conflict and the Strait of Hormuz, here's what the next concern is.

The cliff that we will fall off from having pulled forward all of the demand and tax breaks and everything else from the One Big Beautiful Bill Act.