President Donald Trump signed the Republican tax bill, the Tax Cuts and Jobs Act, into law in December. It was the greatest one-time reduction in the corporate tax rate, from 35 percent to 21 percent, in U.S. history.
Cato Institute’s Ryan Bourne visited the SMU Tower Center to discuss the economic implications of the bill. Bourne examined the impact through three inter-linked lenses: the direct financial impact on families, the impact on economic efficiency and growth, and the impact on the federal debt burden.