President Trump’s signature 2017 Tax Cuts and Jobs Act (TCJA) has been a topic of debate since its implementation, with various economic experts weighing in on the impact of the cuts on individuals and businesses. With many provisions set to expire at the end of 2025, there are concerns about the long-term fiscal consequences of extending these cuts.
To gain a better understanding of how the tax cuts have actually unfolded since 2017, the Wall Street Journal (WSJ) spoke to three economists specializing in corporate taxes, pass-through business taxes, and taxes for individuals. These experts provided insights into the impact of the cuts on different sectors of the economy.
The economists discussed the impact of corporate tax cuts, highlighting how businesses have benefitted from the reduced tax rates under the TCJA. They also examined the effects of the “pass-through” tax cuts, which allow certain businesses to pay taxes at individual rates rather than corporate rates. Additionally, the economists discussed how the individual tax cuts have affected taxpayers and their overall financial well-being.
Looking ahead, there are questions about the future of Trump’s tax policies under a potential “Trump 2.0 tax bill.” The economists provided insights into what may lie ahead in terms of tax reform and how it could impact individuals and businesses moving forward.
Overall, the discussion shed light on the complex and multifaceted impact of Trump’s 2017 tax cuts, highlighting the need for careful consideration and analysis when it comes to shaping future tax policy. With the potential for significant revenue reductions over the next decade, it will be important for policymakers to weigh the economic benefits of tax cuts against the potential drawbacks for government programs and services that benefit Americans.
Watch the video by The Wall Street Journal
Video “Economists on How Trump’s 2017 Tax Cuts Actually Unfolded | WSJ” was uploaded on 02/28/2025 to Youtube Channel The Wall Street Journal