Author: Publisher:
ISBN:
Category : Taxation
Languages : en
Pages : 58
Book Description
Analysis of Long-term Revenue Impacts of the President's Tax Reform Plan
Author: Analysis of Long-Term Revenue Impacts of the President's Tax Reform Plan
Author: Estimated Revenue Effects of the President's Tax Reform Proposal
Author: United States. Congress. House. Committee on Ways and MeansPublisher:
ISBN:
Category : Budget
Languages : en
Pages : 26
Book Description
Tax reform for fairness, simplicity, and economic growth
Author: United States. Department of the Treasury. Office of the SecretaryPublisher:
ISBN:
Category : Income tax
Languages : en
Pages : 428
Book Description
U.S. Investment Since the Tax Cuts and Jobs Act of 2017
Author: Emanuel KoppPublisher: International Monetary Fund
ISBN: 1498317049
Category : Business & Economics
Languages : en
Pages : 37
Book Description
There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA primarily as a windfall for shareholders. We find that U.S. business investment since 2017 has grown strongly compared to pre-TCJA forecasts and that the overriding factor driving it has been the strength of expected aggregate demand. Investment has, so far, fallen short of predictions based on the postwar relation with tax cuts. Model simulations and firm-level data suggest that much of this weaker response reflects a lower sensitivity of investment to tax policy changes in the current environment of greater corporate market power. Economic policy uncertainty in 2018 played a relatively small role in dampening investment growth.
Trump's 'Big-League' Tax Reform
Author: Ryan ClementsPublisher:
ISBN:
Category :
Languages : en
Pages : 51
Book Description
This paper reviews the several proposed tax reforms articulated by President Donald Trump, both during his presidential campaign, and since taking office, in light of economic theory, and the Modigliani-Miller Irrelevance Theorem, to show that companies will adapt their polices, in light of new taxes, and that this impacts the effectiveness of reform. In support, I survey two empirical studies, one in relation to the repatriation efforts of President Bush's Homeland Investment Act, and another in relation to unexpected changes to the taxation of Canadian income trusts to show that reform measures can lead to unanticipated results. I then apply the principles from these studies, the general economic theories and the Modigliani-Miller Irrelevance Theorem, to cast uncertainty on the net effect of Trump's tax reforms. Next, I review the constitutionality of a proposed “border adjustment tax”, and I analyze whether this reform is a direct tax that isn't apportioned between the States, and does not qualify as income under the 16th amendment, and is thereby unconstitutional. I show that such a constitutional challenge is a difficult undertaking given the substantive arguments in favour of constitutionality, the rarity of judicial intervention in overturning tax laws, and the wide discretion of Congress to levy taxes on income. Finally, I conclude by considering the role of economic analysis on the border adjustment constitutional question and provide an overview of the arguments, both for and against utilizing economic analysis in constitutional tax litigation, including a review of the various cases, and defining principles, with emphasis to the decisions of Judge Richard Posner, where economic analysis has been used in the statutory interpretation of tax laws.
Qualified Business Income Deduction
Author: Elliot PisemPublisher:
ISBN: 9781633592612
Category : Income tax deductions
Languages : en
Pages :
Book Description
...discusses a new provision of the Internal Revenue Code, §199A, which provides a 20% deduction for qualified business income, qualified publicly traded partnership income, qualified REIT dividends, and income of, or received from, certain agricultural or horticultural cooperatives. The Portfolio describes the requirements that taxpayers must meet in order to qualify for the deduction, the complex rules that limit taxpayers’ eligibility for the deduction, and the many uncertainties that taxpayers and their advisers face in interpreting the statute.
The Budget and Economic Outlook
Author: Tax Withholding and Estimated Tax
Author: Publisher:
ISBN:
Category : Tax revenue estimating
Languages : en
Pages : 56
Book Description
Fiscal Policy and Long-Term Growth
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257
Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.