scholarly journals The Impact of the Tax Cuts and Jobs Act of 2017 on the US Government Debt

2019 ◽  
Vol 7 (4) ◽  
pp. 01-09
Author(s):  
Min Xu ◽  
Suk Kim ◽  
Jeanne David
Keyword(s):  
Government Debt ◽  
Us History ◽  
The Great Recession ◽  
Tax Relief ◽  
The Us ◽  
Us Government ◽  
Federal Debt ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts

There have been three major tax cuts in the modern US history: 1) the Tax Cuts and Jobs Act of 2017; 2) the Economic Growth and Tax Relief Reconciliation Act of 2001; and 3) the Economic Recovery Act of 1981. Each of the first two major tax cuts had increased the federal debt. Just about everybody agrees that US federal debt is on an unsustainable path. Can we afford another major tax cut without trigging a major economic disaster such as the Great Recession of 2007-2009? This article discusses an overview of this new law, the impact of the first two major tax cuts on the federal debt, the impact of the Tax Cuts and Job Acts on the US government debt, and its consequences.

scholarly journals Measuring the Effects of Corporate Tax Cuts

2018 ◽  
Vol 32 (4) ◽  
pp. 97-120 ◽  
Author(s):  
Alan J. Auerbach
Keyword(s):  
Multinational Corporations ◽  
Income Tax ◽  
Capital Investment ◽  
Corporate Income Tax ◽  
Tax Law ◽  
Corporate Tax ◽  
The Law ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts

On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA), the most sweeping revision of US tax law since the Tax Reform Act of 1986. The law introduced many significant changes. However, perhaps none was as important as the changes in the treatment of traditional “C” corporations—those corporations subject to a separate corporate income tax. Beginning in 2018, the federal corporate tax rate fell from 35 percent to 21 percent, some investment qualified for immediate deduction as an expense, and multinational corporations faced a substantially modified treatment of their activities. This paper seeks to evaluate the impact of the Tax Cuts and Jobs Act to understand its effects on resource allocation and distribution. It compares US corporate tax rates to other countries before the 2017 tax law, and describes ways in which the US corporate sector has evolved that are especially relevant to tax policy. The discussion then turns the main changes of the Tax Cuts and Jobs Act of 2017 for the corporate income tax. A range of estimates suggests that the law is likely to contribute to increased US capital investment and, through that, an increase in US wages. The magnitude of these increases is extremely difficult to predict. Indeed, the public debate about the benefits of the new corporate tax provisions enacted (and the alternatives not adopted) has highlighted the limitations of standard approaches in distributional analysis to assigning corporate tax burdens.

scholarly journals (Un)intended Consequences? The Impact of the 2017 Tax Cuts and Jobs Act on Shareholder Wealth

2019 ◽  
Author(s):  
Ivalina Kalcheva ◽  
James Plecnik ◽  
Hai Tran ◽  
Jason Turkiela
Keyword(s):  
Shareholder Wealth ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts

scholarly journals Quebec’s Economic and Commercial Linkages with the United States, 1994–2017

2017 ◽  
Author(s):  
Earl H. Fry
Keyword(s):  
United States ◽  
Trade Agreement ◽  
The United States ◽  
The North ◽  
Nation States ◽  
Wide Range ◽  
The Us ◽  
Us Government ◽  
Big Picture ◽  
The Impact

This article examines the ebb and flow of the Quebec government’s economic and commercial relations with the United States in the period 1994–2017. The topic demonstrates the impact of three major forces on Quebec’s economic and commercial ties with the US: (1) the North American Free Trade Agreement (NAFTA) which became operational in 1994 and was fully implemented over a 15-year period; (2) the onerous security policies put in place by the US government in the decade following the horrific events of 11 September 2001; and (3) changing economic circumstances in the United States ranging from robust growth to the worst recession since the Great Depression of the 1930s. The article also indicates that the Quebec government continues to sponsor a wide range of activities in the United States, often more elaborate and extensive than comparable activities pursued by many nation-states with representation in the US. 1 1 Stéphane Paquin, ‘Quebec-U.S. Relations: The Big Picture’, American Review of Canadian Studies 46, no. 2 (2016): 149–61.

scholarly journals Expected effects of the US tax reform on other countries: global and local survey evidence

2020 ◽  
Vol 27 (6) ◽  
pp. 1608-1630
Author(s):  
Dorine Boumans ◽  
Clemens Fuest ◽  
Carla Krolage ◽  
Klaus Wohlrabe
Keyword(s):  
Survey Data ◽  
Negative Impact ◽  
Manufacturing Companies ◽  
The Us ◽  
The Usa ◽  
Business Survey ◽  
Economic Ties ◽  
Global And Local ◽  
Jobs Act ◽  
The Impact

Abstract The Tax Cuts and Jobs Act constitutes the largest change to the US tax system since the 1980s and thoroughly alters the way in which multinational companies are taxed. Current assessments on the reform’s international impact vary widely. This article sheds light on the tax reform’s expected effects on other countries. We first use representative German business survey data to analyze the impact of the reform on German firms. Many firms with substantial US revenues or capacities in the USA intend to expand US investment in response to the reform, in particular large firms and manufacturing companies. The effects on investment in Germany are ambiguous: While some firms substitute between investment locations, others expand in both countries. We subsequently extend our analysis to a global level using worldwide survey data. The results suggest a negative impact on tax revenues and investment in countries with close economic ties to the USA.

China-US summit yields more strains than gains

2015 ◽  
Keyword(s):  
Presidential Election ◽  
Personal Data ◽  
Content Type ◽  
The Us ◽  
Us Government ◽  
International Image ◽  
Economic Slowdown ◽  
Government Workers ◽  
The Impact ◽  
The Relationship

Significance Several recent strains in the relationship guaranteed a tense official dialogue and tepid reception of Xi across Washington -- the impact of China's economic slowdown on the US stock market, accusations of Chinese cyber theft of US government workers' personal data, and continued maritime tensions. Impacts China's climate change commitments will improve its international image, but will not reduce tensions on other issues. Washington will impose sanctions if it believes China is breaking the new cybercrime agreement. US politics ahead of next year's presidential election will put more strain on China-US relations. Dialogue on the South China Sea is unlikely to bear fruit while Washington's policy is undecided.

“We Have No End”

2021 ◽  
pp. 119-157
Author(s):  
Elliott Young
Keyword(s):  
United States ◽  
The United States ◽  
Law And Order ◽  
Us History ◽  
The Us ◽  
Us Government ◽  
Cuban Government

In the spring and summer of 1980, 125,000 Cubans fled from the port of Mariel outside of Havana to Florida. By 1987, close to 2,400 Mariel Cubans were being held in prisons in Oakdale, Louisiana, and Atlanta, Georgia, because they had committed crimes in the United States and been ordered deported. Lacking the ability to carry out the deportation, the US government incarcerated the Cubans indefinitely. Upon learning in November 1987 that the Cuban government would accept some of these deportees, detainees in these two prisons rose up, seized 138 hostages, and set the prisons ablaze. After two weeks, the Cuban detainees surrendered once the US government agreed to individually review their asylum claims. The story of the longest prison uprising in US history reveals how law and order politics, emphasizing a heavy-handed policing of crime, merged with immigration restrictions in the 1980s to produce mass immigrant incarceration.

Turnover behavior among US government employees

2019 ◽  
Vol 86 (4) ◽  
pp. 641-656 ◽  
Author(s):  
Hyungjo Hur ◽  
Joshua Hawley
Keyword(s):  
Great Recession ◽  
Employee Turnover ◽  
Turnover Rates ◽  
Government Employees ◽  
Organizational Fit ◽  
The Great Recession ◽  
Public Managers ◽  
Us Government ◽  
Government Workers ◽  
The Impact

High employee turnover is a critical policy issue for public managers to solve. The US government is concerned about slowing turnover rates, which have accelerated from 14–15% to more than 18% since the Great Recession. Explanations for increases in employee departure are more difficult to pin down. The expected wave of baby-boomer retirements did not materialize and cannot explain turnover. The impact of the Great Recession on employment makes it more difficult to theorize about the relationship between employee–organizational fit and turnover. This study analyzes US government employees’ turnover using data from the 2003, 2006, 2010, and 2013 editions of the National Survey of College Graduates. The data provide a unique opportunity to study cohorts of US government workers before and after the recession. Statistical models of employee turnover focus on comparing the factors that lead to employee departure. The exodus of workers from government offices can be explained more by the fit between the individual and organizational needs than by a mismatch between the skills required in the job and the needs of the organization. The results show that when there is a mismatch between individual skill level and the skills in their job, individuals are more likely to move within government. Workers that made job changes after the recession (2010–2013) had a greater gap in organizational fit than those that made job changes prior to the recession (2003–2006). Points for practitioners This study describes turnover in public organizations and provides conclusions showing how managers can minimize the risk of turnover to ensure effective government. Public managers should modify management policies to meet the needs of modern-day employees and make the government more resilient within changing work environments. Organizations can begin to mitigate turnover rates during hiring by matching employment opportunities with the job skills and expectations of candidates through careful hiring, appropriate placement, and providing employee training and support.

scholarly journals (Un)intended consequences? The impact of the 2017 tax cuts and jobs act on shareholder wealth

2020 ◽  
Vol 118 ◽  
pp. 105860 ◽  
Author(s):  
Ivalina Kalcheva ◽  
James M. Plečnik ◽  
Hai Tran ◽  
Jason Turkiela
Keyword(s):  
Shareholder Wealth ◽  
Jobs Act ◽  
The Impact ◽  
Tax Cuts
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