HKS Affiliated Authors


February 11, 2020, Paper: "In my testimony today I will make four points: 1. Corporate tax collections are very low both in historical perspective and compared with other countries. This contributes to the overall low level of revenue. 2. The 2017 tax law (Public Law 115-97) is a major reason for this revenue loss, with its total cost likely to be even larger than was estimated when the law originally passed. 3. There is no evidence that the 2017 tax law has made a substantial contribution to investment or longer-term economic growth. In fact, business investment growth has slowed to nearly a halt while economic growth has been propped up by increases in government spending. 4. Going forward, a well-designed business tax reform could both increase revenue and encourage more investment and innovation."