Research Briefs·Mar 12, 2024

Tax Policy and Investment in a Global Economy

While the Tax Cuts and Jobs Act increased domestic investments of US-based multinational corporations, this extra revenue was offset by the higher cost of depreciation deductions. As a result, the 14-percentage-point tax rate cut resulted in large corporate tax revenue losses.
Gabriel Chodorow-Reich, Matthew Smith, Owen M. Zidar, and Eric Zwick
Based on BFI Working Paper No. 2023-141, “Tax Policy and Investment in a Global Economy”
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