The Tax Cuts and Jobs Act of 2017, a landmark piece of tax legislation from the first year of the Trump administration, overhauled the tax code for both individuals and businesses. In this episode of The Pie, Eric Zwick, Professor of Economics and Finance at the UChicago’s Booth School of Business, discusses how the overhaul affected the economy, including investment, tax revenue, and wages. 

More on this topic

Research Briefs·May 30, 2024

Bourbon Reforms and State Capacity in the Spanish Empire

Giorgio Chiovelli, Leopoldo Fergusson, Luis Martínez, Juan David Torres, and Felipe Valencia Caicedo
The Spanish colonial empire in Latin America offers insights into the effects of state formation on economic development and political institutions, with lessons for today. Spain introduced a system in the late 18th century that relied on appointed governors with...
Topics: Tax & Budget
Research Briefs·May 23, 2024

Child Tax Benefits and Labor Supply: Evidence from California

Jacob Goldin, Tatiana Homonoff, Neel A. Lal, Ithai Lurie, and Katherine Michelmore
Removing the work requirement from the California child tax credit did not cause a significant number of mothers to stop working.
Topics: Tax & Budget
Research Briefs·Mar 12, 2024

Tax Policy and Investment in a Global Economy

Gabriel Chodorow-Reich, Matthew Smith, Owen M. Zidar, and Eric Zwick
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...
Topics: Tax & Budget