Statement on Final Passage of the Tax Cuts and Jobs Act
With the Tax Cuts and Jobs Act, Congress took a historic step toward rewriting the U.S. tax code for the first time since 1986.
1 min read
Pass-Through Deduction Won’t Flow Through to Most States
For policymakers in most states, the fact that the pass-through deduction doesn’t affect AGI should come as a relief. For those in the six states which use federal taxable income as their starting point for conformity, decoupling from the provision is an entirely viable option.
2 min read
Who Gets a Tax Cut Under the Tax Cuts and Jobs Act?
How would the Tax Cuts and Jobs Act impact different households? Check out our sample taxpayers to see what would change if the bill is enacted.
5 min read
The Tax Cuts and Jobs Act: Preliminary Economic Analysis
According to the Tax Foundation’s Taxes and Growth Model, the Tax Cuts and Jobs Act would lead to a 1.7 percent increase in GDP over the long term, 1.5 percent higher wages, an additional 339,000 full-time equivalent jobs, and cost $1.47 trillion on a static basis and by $448 billion on a dynamic basis.
2 min read
Prepaying SALT isn’t an Option
As the Tax Cuts and Jobs Act seeks to simplify the tax code, a last-minute provision closed a potential new tax-planning strategy germinating before the bill even passed.
2 min read
Conference Report Limits on Interest Deductions
There is no good reason to eliminate interest deductions to permit expensing. Expensing is a key element of any tax system which seeks to put all economic activity on a level playing field.
9 min read
Under Conference Agreement, Fewer Households Would Face the Alternative Minimum Tax
The Tax Cuts and Jobs Act will temporarily reduce alternative minimum tax liability, but retain the complexity inherent to the tax.
4 min read
Tax Cuts and Jobs Act Puts the U.S. with its International Peers
If enacted, the Tax Cuts and Jobs Act would put the U.S. corporate tax rate more in line with its international peers at 13th highest of 35 OECD countries.
2 min read