In 2017, the United States enacted the Tax Cuts and Jobs Act, which delivers a number of changes for both corporations and individuals. While some cheered the legislation, others took elected officials to task for potentially unleashing significant deficits and creating an even greater fiscal debt burden. Count tax professionals Benjamin H. Harris and Adam Looney among this camp of dissenters in their precise examination of tax-cut effects on the US economy. getAbstract suggests this detailed, comprehensive report to executives and taxpayers.
In this summary, you will learn
- How the Tax Cuts and Jobs Act (TCJA) alters the US tax system,
- Why its provisions could endanger long-term fiscal and economic health, and
- How officials can upgrade the TCJA in the future.
About the Authors
Benjamin H. Harris is a visiting associate professor at the Kellogg School of Management. Adam Looney is a senior fellow at the Brookings Institution.