A recent tax reform slashed tax breaks on investment .

最近的税收改革削减了投资的税收优惠。

Transfers to local government will be slashed .

转到当地政府的账将会大幅削减。

George w. bush slashed the rates on capital gains and dividends .

乔治w布什大幅削减了资本收益和分红的税率。

Some states have slashed bloated programmes such as prisons .

一些州将监狱这样组织臃肿的机构进行了削减。

What would happen if governments also slashed their spending ?

如果政府也大幅削减开支，那会怎样？