Donald Trump’s plans to invest in infrastructure could stimulate the U.S. economy and create jobs, but tax cuts could smother long-term growth, according to Kent Smetters, Wharton professor of business economics and public policy. Real U.S. economic growth, after inflation, is expected to be at 1.5% annually or so in the long run, he adds, citing projections from the Penn Wharton Budget Model that he runs as faculty director. Smetters spoke of the likely impact of Trump’s post-election priorities on the Knowledge at Wharton show on Wharton Business Radio on SiriusXM channel 111 . (Listen to the podcast at the top of this page.) Here are five takeaways from the conversation: Infrastructure Investments in Sight: Trump will aim to stimulate the economy with investments in infrastructure, says Smetters. “There is wide agreement that infrastructure is collapsing,” and there is a need to replace it, which would also create jobs, he adds.…