Lessons from the biggest business tax cut in US history (Record no. 527794)
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| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Chodorow-Reich, G. Zidar, O. and Zwick, E. |
| 245 ## - TITLE STATEMENT | |
| Title | Lessons from the biggest business tax cut in US history |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Journal of Economic Perspectives |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 38(3), Summer, 2024: p.61-88 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We assess the business provisions of the 2017 Tax Cuts and Jobs Act, the biggest corporate tax cut in US history. We draw five lessons. First, corporate tax revenue fell by 40 percent due to the lower rate and more generous expensing. Second, firms with larger declines in their effective tax wedge increased investment relatively more. In aggregate, we suggest a loose consensus from the literature that total tangible corporate investment increased by 11 percent. Third, the business tax provisions increased economic growth and wages by less than advertised by the Act's proponents, with long-run GDP higher by less than 1 percent and labor income by less than $1,000 per employee. Fourth, provisions that increase foreign investment by US-based multinationals also boost their domestic operations. Fifth, some of the expired and expiring provisions, such as accelerated depreciation, generate more investment per dollar of tax revenue than others.- Reproduced https://www.aeaweb.org/articles?id=10.1257/jep.38.3.61 |
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| Main entry heading | Journal of Economic Perspectives |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
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| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-09-25 | 38(3), Summer, 2024: p.61-88 | AR133227 | 2024-09-25 | Articles |