This comprehensive overview of the of the Senate Tax Cuts and Jobs Act includes a summary of its details and macroeconomic analysis of how it would impact federal revenue, wages, GDP, and after-tax incomes.
The Senate Tax Cuts and Jobs Act shares many things with its House counterpart, but also differs on several particulars. This guide consolidates all of the details of the Senate plan in one convenient location.
Even with large changes, many in the pass-through community are arguing that small pass-throughs don’t benefit since most or all of their taxable income falls below the 25 percent maximum rate. While correct on the small point, advocates miss the greater tax reform picture. Small pass-through businesses would still benefit from a number of other changes.
One goal of the House Tax Cuts and Jobs Act is to move international business taxation to a territorial rather than a worldwide system. Here’s how it would work.
This paper evaluates the arguments for and against “crowding out” and compares these arguments to empirical studies. It discusses the impact of tax changes on the allocation of national income between consumption and saving, and the allocation of saving between private investment and government deficits. It finds that the crowding out argument is largely based on a mistaken assumption about the flexibility and availability of saving and credit for the financing of government deficits and private investment.
This comprehensive overview of the of the House Tax Cuts and Jobs Act includes a summary of its details and macroeconomic analysis of how it would impact federal revenue, wages, GDP, and after-tax incomes.
Considered as a whole, this plan would make the U.S. substantially more competitive, not only due to lower rates but also due to a better tax structure.
Though admittedly complex, the pass-through anti-abuse rules in the Tax Cuts & Jobs Act represent a well-thought-out approach to dealing with this issue.
The widely anticipated House Tax Cuts and Jobs Act includes hundreds of structural changes to the tax code. Here are the eight most important provisions in no particular order.
Hampered by high marginal tax rates and complex business tax rules, the United States again ranks towards the bottom of the pack on our 2017 International Tax Competitiveness Index, placing 30 out of 35 OECD countries.
Corporate tax reform done right is key to growing the economy, boosting real family incomes, and making the U.S. a better place in which to do business.