A new study illustrates how overlooking an important element of the tax system—the structure of the tax base—can lead to an incomplete understanding of how tax reform impacts the economy.
Improving cost recovery for residential structures, while not a silver bullet for solving the housing crisis, would on the margin encourage more construction that would help push rents down across the board.
In contrast, the Tax Cuts and Jobs Act lowered the corporate tax rate and allows immediate and full expensing for the next five years.