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Report

The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises

March 5, 2024 | , and
Policymakers and the public should understand that the 2017 Trump tax law was skewed to the rich, was expensive and eroded the U.S. revenue base, and failed to deliver promised economic benefits. A 2025 course correction is needed.
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Policy Basics

The individual income tax and payroll tax together generate 84 percent of federal revenues, while corporate, excise, and other taxes generate the rest.

We analyze major tax proposals, examining their likely impact on the economy, on the nation’s fiscal health, and on the government’s ability to address critical national needs, especially over the long term. We also examine the impact of tax proposals on households at different income levels.

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Experts

Tax Day Is Approaching: 5 Facts to Know
This year’s Tax Day is April 18 — just days away. Here are five important facts to keep in mind about claiming valuable tax credits, filing deadlines, and available resources to help with...
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