Using a dynamic text-based approach to measuring firms’ tax policy expectations, we show that two tax-changing events—namely, the 2016 U.S. election and the Tax Cuts and Jobs Act (TCJA)—affected these expectations in ways that vary substantially across firms and sometimes run counter to...

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....

Impact of Tax Cuts and Jobs Act on investments -- How the Tax Cuts and Jobs Act changed tax rates imposed on individual investors -- How the Tax Cuts and Jobs Act changed treatment of capital gains -- How the Tax Cuts and Jobs Act changed tax credits and deductions claimed by investors -- Impact...

The author considers whether changes to the U.S. rules for sourcing income from inventory sales contained in the Tax Cuts and Jobs Act operate as intended in light of existing provisions that take precedence over the revised section and given the rules regarding effectively connected income. She...