In 2017, the US promulgated the Tax Cuts and Jobs Act (TCJA). Prominent in the TCJA is the reduction of corporate tax from 35% to 21% in the US.
Question:
In not more than 2500 words (excluding references), critically evaluate the success/failure of the TCJA 2017 corporate tax reduction.
Hint:
Your essay should include a discussion of the following:
1. Why may countries reduce or increase corporation tax?
2. What were the key objectives of the corporate tax reduction in TCJA 2017?
3. Were these objectives achieved?
4. Were there any unintended consequences? For example, for businesses and government revenue
Your essay should include citations from credible source, particularly academic journals.
We have to write two evaluations, for success and failure and give our opinion on each.
Cites we can use:
Updated Details and Analysis of the 2017 House Tax Cuts and Jobs Act
https://www.law.cornell.edu/wex/tax_cuts_and_jobs_act_of_2017_%28tcja%29
Did the 2017 tax cut—the Tax Cuts and Jobs Act—pay for itself?
https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/ .
PLEASE NOTE: this is a group assignment ( 3 students ), BUT I am only doing my part and I need your help. So, don’t write 2500 word, instead just do my part which will be 800 words.
please don’t forget the citation and references.