There are many controversial measures contained in the GOP bill. In order to minimize the hit to revenue, the desired rate reductions were matched by the elimination of many deductions and exemptions
House Republicans today unveiled their much-anticipated tax bill, which contains the most extensive reform of the tax code since the landmark 1986 overhaul. Although we have not fully digested the details, we can offer some initial observations from the perspective of IER’s focus on free energy markets.
What’s In a Name?
H.R. 1 is aptly titled “The Tax Cuts and Jobs Act.” This is consistent with President Trump’s campaign rhetoric, as well as the familiar theme of conservative and libertarian policymakers that prosperity occurs by unleashing American entrepreneurs and returning resources to the private sector.
