Business, 25.03.2020 05:49 gabriellabadon2

On December 15, 2017, a House of Representatives and Senate Conference Committee released a unified version of the Tax Cuts and Jobs Act. This followed passage of the Tax Cuts and Jobs Act by the House of Representatives on November 16, 2017, and by the Senate on December 2, 2017. The Tax Cuts and Jobs Act would reform the individual income tax code by lowering tax rates on wages, investment, and business income; broadening the tax base; and simplifying the tax code. The plan would lower the corporate income tax rate to 21 percent and move the United States from a worldwide to a territorial system of taxation. Please read the following Tax Foundation article before proceeding to the case study questions below: https://taxfoundation. org/final-tax-cuts-and-jobs-act-det ails-analysis/

- Summarize one of the tables or graphs presented in the article. What's on the x-axis/y-axis? What did you conclude from this table or graph?
- This tax reform act is expected to bring what sort of impact on the economy
- Given your understanding of Ch. 7 - Taxes, what is your overall take on the new tax plan?

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