Extending the TCJA would slightly boost economic growth in the short term, increasing GDP and household incomes. However, the long-term impact includes rising federal deficits that would outweigh the benefits, offsetting only a small portion of the $4 trillion cost.
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This model evaluates potential adjustments to income tax rates, corporate taxation, payroll taxes, and deductions, providing insights into revenue implications, economic growth, and distributional effects.
Tax reform is a critical component of economic policy, shaping government revenue, business incentives, and individual financial well-being. This white paper examines key proposals for reforming the U.S. tax system, their potential effects on revenue, economic growth, and distributional equity.
This report analyzes the effects of recent and proposed tax policies on Gross Domestic Product (GDP), employment, and consumer spending, providing a data-driven assessment of their long-term economic impact.
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