scholarly journals Tax Policy Next to the Elephant: Business Tax Reform in the Wake of the US Tax Cuts and Jobs Act

2019 ◽  
Author(s):  
Kenneth McKenzie ◽  
Michael Smart
Keyword(s):  
Tax Policy ◽  
Tax Reform ◽  
The Us ◽  
Business Tax ◽  
Jobs Act ◽  
Tax Cuts

scholarly journals Policy Forum: International Effects of the 2017 US Tax Reform—A View from the Front Line

2019 ◽  
Vol 67 (1) ◽  
pp. 27-39
Author(s):  
Peter Harris ◽  
Michael Keen ◽  
Li Liu
Keyword(s):  
Tax Reform ◽  
Front Line ◽  
The Us ◽  
Business Tax ◽  
Jobs Act ◽  
Policy Forum ◽  
Tax Cuts

Proximity and close economic links put Canada on the front line in thinking through the effects of the US Tax Cuts and Jobs Act (TCJA). This article reviews the main channels by which the business tax provisions of the TCJA might affect Canada, and possible responses.

scholarly journals Policy Forum: Business Tax Reform in the United States and Canada

2019 ◽  
Vol 67 (1) ◽  
pp. 57-66
Author(s):  
Ken McKenzie ◽  
Michael Smart
Keyword(s):  
Tax Reform ◽  
The United States ◽  
Economic Effects ◽  
Tax Rates ◽  
The Us ◽  
Key Features ◽  
Business Tax ◽  
Jobs Act ◽  
Policy Forum ◽  
Tax Depreciation

The authors examine some of the key features of the US Tax Cuts and Jobs Act (TCJA) and discuss the implications for Canadian corporations and government revenues. They show that the tax advantage that Canada enjoyed prior to the TCJA has declined significantly, in terms of both statutory and effective (marginal and average) tax rates. They discuss the economic effects of possible responses to the TCJA by Canadian governments, including cutting statutory rates and accelerating tax depreciation deductions. Looking ahead, the authors argue that it would be preferable to focus on a more fundamental tax reform based on the taxation of economic rents.

scholarly journals Think Tank Soldiers in the Battle for Tax Reform

2020 ◽  
Vol 11 (1) ◽  
Author(s):  
Renee Irvin ◽  
Jes Sokolowski
Keyword(s):  
Nonprofit Organizations ◽  
Tax Policy ◽  
Tax Reform ◽  
Think Tanks ◽  
Think Tank ◽  
Political Decision ◽  
Advocacy Organizations ◽  
Jobs Act ◽  
Political Decision Making ◽  
Tax Cuts

AbstractContemporary scholars argue that high wealth donors in the U.S. influence political decision making through generous funding of nonprofit organizations like think tanks. In response to that potential influence, some endorse curbs on implicit subsidies that favor higher-income donors more than lower-income donors. To highlight the debate, this study selects a particular topic – tax policy – that generates highly partisan viewpoints and political agendas. The article first models predicted partisan operational differences, based on donors’ ideological differences. The study then explores the financial, staffing, and board resources of think tanks and associated advocacy organizations. The data were collected in the year immediately prior to the passage of the 2017 U.S. Tax Cuts and Jobs Act, providing a snapshot view of contrasting operations of left-, centrist, and right-leaning tax policy think tanks. Given the notably more generous resources utilized by right-leaning tax policy organizations, it is possible that donor wealth differences enabled right-leaning nonprofits to contribute their influence to get the historic tax reform package passed. However, the successful passage of the Tax Cuts and Jobs Act could have resulted as well from the more targeted messaging and narrative framing employed by right-leaning think tanks and advocacy organizations.

scholarly journals Is This Tax Reform, or Just Confusion?

2018 ◽  
Vol 32 (4) ◽  
pp. 73-96 ◽  
Author(s):  
Joel Slemrod
Keyword(s):  
United States ◽  
Tax Reform ◽  
The United States ◽  
The Political ◽  
Political Will ◽  
Tax Base ◽  
Tax System ◽  
The Law ◽  
Jobs Act ◽  
Tax Cuts

Based on the experience of recent decades, the United States apparently musters the political will to change its tax system comprehensively about every 30 years, so it seems especially important to get it right when the chance arises. Based on the strong public statements of economists opposing and supporting the Tax Cuts and Jobs Act of 2017, a causal observer might wonder whether this law was tax reform or mere confusion. In this paper, I address that question and, more importantly, offer an assessment of the Tax Cuts and Jobs Act. The law is clearly not “tax reform” as economists usually use that term: that is, it does not seek to broaden the tax base and reduce marginal rates in a roughly revenue-neutral manner. However, the law is not just a muddle. It seeks to address some widely acknowledged issues with corporate taxation, and takes some steps toward broadening the tax base, in part by reducing the incentive to itemize deductions.

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 The New Tax Legislative and Regulatory Process

2020 ◽  
Vol 73 (4) ◽  
pp. 1135-1162
Author(s):  
Rebecca M. Kysar
Keyword(s):  
Tax Reform ◽  
Implementation Process ◽  
Regulatory Process ◽  
Legislative Process ◽  
The Future ◽  
Set Up ◽  
Jobs Act ◽  
Reconciliation Process ◽  
Implementation Challenge ◽  
Tax Cuts

This paper compares the enactment and implementation process for the 2017 Tax Cuts and Jobs Act (TCJA) to prior tax reform acts, as well as situates it within other developments in the legislative process more generally. It details how the 2017 enactment process solidifies reconciliation as the primary vehicle for the enactment of major tax measures, a trend nearly two decades in the making. The ambitious scope of the TCJA, as well as the rushed and partisan reconciliation process by which it was enacted, has led to ambiguities and instability in the legislation. These features have, in turn, posed an enormous implementation challenge for Treasury, which has led to some troubling results. Finally, reconciliation has set up the opportunity for Congress to engage in budget gimmicks in the future. This paper discusses these trends and proposes solutions to them.

Tax Policy and Organizational Form: Assessing the Effects of the Tax Cuts and Jobs Act of 2017

2018 ◽  
Vol 71 (4) ◽  
pp. 635-660 ◽  
Author(s):  
Erin Henry ◽  
George A. Plesko ◽  
Steven Utke
Keyword(s):  
Tax Policy ◽  
Organizational Form ◽  
Jobs Act ◽  
Tax Cuts
Sign in / Sign up

Export Citation Format

Share Document