How Are States Responding to the Tax Cuts and Jobs Act?
The Tax Cuts and Jobs Act (TCJA) dramatically cut corporate tax rates, significantly changed individual income tax calculations, and curtailed numerous deductions and allowances. These federal changes also had a significant but varied effect on state corporate and individual income tax systems and taxpayers, but those effects depended on how states responded to the new federal tax law.
The Urban-Brookings Tax Policy Center, American Tax Policy Institute, Murphy Institute at Tulane University, and Boyd Center for Business and Economic Research at the University of Tennessee invite you to a conference to examine state responses one year after passage of the TCJA. Topics will include conformity of state and federal individual and business tax bases, international business as a source of state revenue, and state workarounds to the TCJA’s limit on the deduction for state and local income taxes.
Speakers will also address the following questions:
What are the TCJA’s implications for tax administration across different governments?
How will the new tax laws affect states’ ability to attract people, jobs, and investment?
What should the process and substance of future federal tax legislation look like?
Welcome and Introduction
Tracy Gordon, Senior Fellow, Urban-Brookings Tax Policy Center @gordontrac
Federal-State Tax Conformity after the TCJA
Jennifer Budoff, Budget Director, Council of the District of Columbia @jenbudoff
John Hicks, Executive Director, National Association of State Budget Officers @NASBO
Leila Kleats, Chief Economist, Colorado Governor’s Office of State Planning and Budgeting @COBudgetOffice
Support for this event is provided by the American Tax Policy Institute, Murphy Institute at Tulane University, and Boyd Center for Business and Economic Research at the University of Tennessee. For more information on the Urban Institute’s funding principles, go to http://www.urban.org/fundingprinciples.