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The Tax Cuts and Jobs Act
Report

The Tax Cuts and Jobs Act

A Missed Opportunity to Establish a Sustainable Tax Code

Benjamin H. Harris and Adam Looney
Brookings Institution, 2018
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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • For Experts

Recommendation

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.

Take-Aways

  • The Tax Cuts and Jobs Act (TCJA) of 2017 promised significant reforms for corporations and individuals. 
  • Experts forecast the legislation will increase GDP by less than 1% over a 10-year window. 
  • By 2028, the debt burden could constitute 105% of GDP, “its highest level since World War II.” 

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.

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