Center for American Progress: The Tax Cuts and Jobs Act Failed To Deliver Promised Benefits

The 2017 Tax Cuts and Jobs Act (TCJA) made sweeping changes to America’s tax laws. Signed into law by then-President Donald Trump and approved with only Republican support in both the House of Representatives and the Senate, the TCJA permanently slashed corporate tax rates and changed the way the nation taxes the profits of U.S. multinational corporations.¹ It also temporarily cut personal income and estate taxes, changes that largely benefited the wealth.

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