The tax legislation commonly referred to as the Tax Cuts and Jobs Act (Public Law 115-97) came into effect in 2018. The new tax law was flawed in five important ways. First, the law generates large deficits that will reduce the ability of government to fund important priorities in the future;...

The enactment of the so-called Tax Cuts and Jobs Act of 2017 (TCJA) significantly changes the landscape for tax planning and compliance by U.S. multinational corporations (MNCs). The promised shift to a more territorial system actually results in a greater likelihood that more of a U.S. MNC's...

This study examines the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) on U.S. corporate investment. We examine U.S. firms and compare them to Canadian firms from 2017 to 2019 in a multivariate firm fixed-effects difference-in-differences analysis. Our results indicate that investment...

This paper investigates the extent to which the GILTI (global intangible low-taxed income) tax and FDII (foreign-derived intangible income) deduction affect how U.S. multinational firms’ investment and income shifting strategies change after the 2017 Tax Cuts and Jobs Act (the Act). Overall,...

This study examines the effect of the 2017 Tax Cuts and Jobs Act (TCJA) on capital investment, labor investment, and the productivity of foreign subsidiaries of U.S. multinational corporations (MNCs). Proponents of the TCJA argue it decreased foreign investment by leveling the playing field...

We exploit the 2017 US tax reform to learn about the tax-competitiveness of US multinational corporations (MNCs) relative to their international peers. Matching on the propensity score, we compare pairs of similar US and European firms listed on the S&P500 or StoxxEurope600 in a...

This manuscript summarizes key provisions of the so-called "Tax Cuts and Jobs Act" affecting United States individuals, small businesses, estates, and trusts. It does not cover changes made to pension and retirement accounts, provisions applicable only to certain industries, rules applicable to...

In December 2017, the Trump administration and its congressional allies enacted the Tax Cuts and Jobs Act, hailing it as the twenty-first century successor to the “landmark” Reagan-era Tax Reform Act of 1986. Indeed, the ’86 Act has long been celebrated by scholars and lawmakers alike as...