The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the Senate on December 2, 2017. We find the legislation would boost US gross domestic product (GDP) 0.7 percent in 2018, have little effect on GDP in 2027, and boost GDP 0.1...
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of both the House and Senate versions of the Tax Cuts and Jobs Act. When ignoring...
The Tax Policy Center has released distributional estimates of the Senate version of the Tax Cuts and Jobs Act as passed on December 2, 2017. We find the bill would reduce taxes on average for all income groups in both 2019 and 2025. In general, higher income households receive larger average...
The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the Senate Finance Committee on November 16, 2017. We find the legislation would boost US gross domestic product (GDP) 0.7 percent in 2018, have little effect on GDP in 2027, and...
The Tax Cuts and Jobs Act (TCJA) would reduce tax revenue by nearly $1.5 trillion over the 10-year budget window from FY2018 to FY2027. Analysis by the Tax Policy Center shows that the tax cuts would tilt heavily toward the highest fifth of the income distribution, largely the result of cuts to...
The Tax Policy Center has released distributional estimates of the Senate version of the Tax Cuts and Jobs Act as passed by the Senate Finance Committee on November 16, 2017. We find the bill would reduce taxes on average for all income groups in both 2019 and 2025. In general, higher income...
The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the US House of Representatives on November 16, 2017. We find the legislation would boost US economic output by 0.6 percent of gross domestic product (GDP) in 2018, 0.3 percent...
In Part 1 of this exercise, TPC estimated the revenue and distributional effects of proposals that wouldeliminate almost all income tax expenditures to lower individual and corporate tax rates and maintain long-run revenue neutrality for the Federal tax system. The results of Part 1 showed that...
The Tax Policy Center has released new distributional estimates of the Tax Cuts and Jobs Act to reflect the bill as passed by the Committee on Ways and Means of the US House of Representatives on November 9, 2017. The changes from the bill as originally introduced have a relatively minor effect...
NOTE:This is a corrected version of the analysis originally published November 6, 2017.
The Tax Policy Center has produced preliminary distributional estimates of the Tax Cuts and Jobs Act as introduced on November 3, 2017. We find the legislation would reduce...
Macroeconomic Analysis of the Tax Cuts and Jobs Act as Passed by the Senate
The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the Senate on December 2, 2017. We find the legislation would boost US gross domestic product (GDP) 0.7 percent in 2018, have little effect on GDP in 2027, and boost GDP 0.1...
Winners and Losers After Paying for the Tax Cuts and Jobs Act
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of both the House and Senate versions of the Tax Cuts and Jobs Act. When ignoring...
Distributional Analysis of the Tax Cuts and Jobs Act as Passed by the Senate
The Tax Policy Center has released distributional estimates of the Senate version of the Tax Cuts and Jobs Act as passed on December 2, 2017. We find the bill would reduce taxes on average for all income groups in both 2019 and 2025. In general, higher income households receive larger average...
Macroeconomic Analysis of the Tax Cuts and Jobs Act as Passed by the Senate Finance Committee
The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the Senate Finance Committee on November 16, 2017. We find the legislation would boost US gross domestic product (GDP) 0.7 percent in 2018, have little effect on GDP in 2027, and...
Impact of the Tax Cuts and Jobs Act on Families with Young Children
The Tax Cuts and Jobs Act (TCJA) would reduce tax revenue by nearly $1.5 trillion over the 10-year budget window from FY2018 to FY2027. Analysis by the Tax Policy Center shows that the tax cuts would tilt heavily toward the highest fifth of the income distribution, largely the result of cuts to...
Distributional Analysis of the Tax Cuts and Jobs Act as Passed by the Senate Finance Committee
The Tax Policy Center has released distributional estimates of the Senate version of the Tax Cuts and Jobs Act as passed by the Senate Finance Committee on November 16, 2017. We find the bill would reduce taxes on average for all income groups in both 2019 and 2025. In general, higher income...
Macroeconomic Analysis of the Tax Cuts and Jobs Act as Passed by the House of Representatives
The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by the US House of Representatives on November 16, 2017. We find the legislation would boost US economic output by 0.6 percent of gross domestic product (GDP) in 2018, 0.3 percent...
The Tax Reform Trade-off: Eliminating Tax Expenditures, Reducing Rates (Part 2)
In Part 1 of this exercise, TPC estimated the revenue and distributional effects of proposals that wouldeliminate almost all income tax expenditures to lower individual and corporate tax rates and maintain long-run revenue neutrality for the Federal tax system. The results of Part 1 showed that...
Distributional Analysis of the Tax Cuts and Jobs Act as Passed by the House Ways and Means Committee
The Tax Policy Center has released new distributional estimates of the Tax Cuts and Jobs Act to reflect the bill as passed by the Committee on Ways and Means of the US House of Representatives on November 9, 2017. The changes from the bill as originally introduced have a relatively minor effect...
Preliminary Distributional Analysis of the "Tax Cuts and Jobs Act"
NOTE: This is a corrected version of the analysis originally published November 6, 2017.
The Tax Policy Center has produced preliminary distributional estimates of the Tax Cuts and Jobs Act as introduced on November 3, 2017. We find the legislation would reduce...