President Trump and his administration passed a new tax law called the Tax Cuts and Jobs Act
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Question:
President Trump and his administration passed a new tax law called the Tax Cuts and Jobs Act of 2017. List and explain the provisions of this law. Then give your thoughts on the following:
- Discuss the potential impact of this law on the economy. In theory (in a world without Covid-19), do you think this type of regulation would have stimulated or depressed the economy? Make arguments on both side and provide references to support your theories.
- Discuss the impact of this tax law on capital budgeting decisions. (Be specific and provide references.)
- President Biden recently signed the Inflation Reduction Act of 2022. Discuss the tax implications of this act. Be specific and provide a live link to your source(s). What impact do you anticipate this act having on the economy?
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