The change cut the tax rate from 35 percent to 21 percent and allowed companies to take advantage of deductions, tax credits and rebates. That change alone is projected to save corporations $1.35 trillion over the next decade, according to the Joint Committee on Taxation.
‘We know that there’s this pretty glaring contrast between what the proponents of this tax law promised back in 2017 and what it’s delivering now,’ lead author Matthew Gardner told DailyMail.com.
‘The whole argument was that the reason companies were avoiding taxes is because tax rates are so high,’ he added. ‘What we’re seeing is that isn’t coming to pass.’ Read more