The Tax Cuts and Jobs Act can be criticized on many substantive grounds, and for its effect on deficits. But the legislative process also revealed important shortcomings beyond its haste. Traditional tax policy metrics – conventional revenue estimates, dynamic estimates and distributional analyses – yield misleading results in a tax framework that loses over one trillion dollars. The result is that the legislation has even more deleterious welfare implications than these standard metrics suggest.
Law | Taxation-Federal | Tax Law
Date of this Version
Edward D. Kleinbard, "Perversion of the Tax Policymaking Process" (January 2018). University of Southern California Legal Studies Working Paper Series. Working Paper 258.