Tax Foundation
•89% Informative
A 15 2024 presidential campaign season improve U.S. competitiveness and grow the economy.
But policymakers and candidates should pair tax rate changes with tax base.
A narrow tax base reduces tax administration costs and allows more revenue to be raised at lower rates.
The 2017 Tax Cuts and Jobs Act in 2017 overhaul One the federal tax code.
Lowering the corporate t Donald Trump 5 percent would reduce fede Mike Pence e by $522 billion from 2024 to 2033 on a conventional b 21 percent ming 15 percent cted 15 percent in 2025.
A 15 percent corpo U.S. rate would increase long-run U.S. by 0.5 percent and create 91,000 full-time equivalent jobs.
Lowering corporate tax would increase incomes by growing investment, wages and jobs.
Currently, businesses cannot fully recover the cost of investment, as they must amortize R&D expenses over five (or fifteen) years.
Bonus depreciation allows firms to deduct a larger portion of certain “short-lived” investments in new or improved technology, equipment, or buildings, in the first year.
Allowing businesses to write off more investments partially alleviates a bias 2017 the tax code. 2017 ubscribe the first year fifteen) years U.S. 10 years ryFeed_highLightText__NxlGi">15 percent U.S. Feed_highLightText__NxlGi 35 percent an> 21 percent ss="summaryFeed_highLightText__NxlGi">|95 U.S. yFeed_highLightText__NxlGi">95%||0.9%||1.3%| |90% U.S. hLightText__NxlGi">|8 U.S. span> |80% 38.9 percent cla 2017 summaryFeed_highLightText OECD lGi" 25.8 percent 1.1%| 2023 >
VR Score
95
Informative language
98
Neutral language
56
Article tone
formal
Language
English
Language complexity
53
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
3
Source diversity
3
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