Overall, TRA17 is not much worse than TRA86 or TRA14. It increases the deficit, but not by an impossible amount; it is distributionally skewed, but less so than is usually assumed; and its details are not terrible (on the international side they are a big improvement over prior law). There is one big problem, the pass through provisions, and we can only hope that as its horrible implications unfold it will be a prime candidate for repeal.
Law and Economics | Public Law and Legal Theory | Tax Law
Date of this Version
Working Paper Citation
Avi-Yonah, Reuven S., "How Terrible Is the New Tax Law? Reflections on TRA17" (2018). Law & Economics Working Papers. 148.