The Tax Cuts and Jobs Act: An Appraisal

The Tax Cuts and Jobs Act: An Appraisal
Author :
Publisher : International Monetary Fund
Total Pages : 48
Release :
ISBN-10 : 9781484372548
ISBN-13 : 1484372549
Rating : 4/5 (48 Downloads)

Book Synopsis The Tax Cuts and Jobs Act: An Appraisal by : Mr.Nigel A Chalk

Download or read book The Tax Cuts and Jobs Act: An Appraisal written by Mr.Nigel A Chalk and published by International Monetary Fund. This book was released on 2018-08-07 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the landmark Tax Cuts and Jobs Act (TCJA), from the perspective of both the U.S. itself and the wider world. The reform has many positive aspects including steps to broaden the base of, and reduce marginal rates under, the personal income tax (PIT), reduce distortions to investment and financing decisions, and mitigate outward profit shifting. But the TCJA has a large fiscal price tag and leaves significant uncertainty as to how the U.S. tax system will develop. The PIT changes could have better targeted relief at low earners, and there is scope to more fully address distortions in business taxation. The novel international provisions create a complex array of both positive and negative international spillovers, and have the potential to significantly reshape the wider international tax system.


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