2017 Articles
An Analysis of the House GOP Tax Plan
This paper analyzes the House GOP tax reform blueprint, which would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and most itemized deductions, and convert business taxation into a destination-based cash flow consumption tax. Taxes would drop at all income levels in 2017, but the highest-income households would gain the most. Federal revenues would fall by $3.1 trillion over the first decade (static) and $3.0 trillion after accounting for macroeconomic feedback effects. Including added interest costs, the federal debt would rise by at least $3.6 trillion over the first decade and by as much as $9.2 trillion by the end of the second ten years.
Subjects
Files
- Burman.pdf application/pdf 4.16 MB Download File
Also Published In
- Title
- Columbia Journal of Tax Law
- DOI
- https://doi.org/10.7916/cjtl.v8i2.2851
More About This Work
- Academic Units
- Law
- Published Here
- November 17, 2017