The Trump tax cuts brought the largest year-over-year drop in corporate tax revenue for the federal government outside of a recession.
, including for the commercial real estate industry and wealthy heirs. In 2018, a group of the most profitable corporations paid an effective tax rate of 11.3 percent, the lowest rate in decades and almost half the rate set by the new law."The problem of special breaks and loopholes was not addressed," said Steve Wamhoff of ITEP whose"Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families.
found evidence that the law is producing more investment overseas than in the United States, contrary to the intent of the law."[W]e're planning revenue-neutral tax reform, which means you have to take away loopholes and special interest deductions if you're going to lower tax rates." –
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