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Expert Analysis - Opinion

TCJA Replaced The 1986 Tax Act, But Is It Tax Reform?

By Harvey Galper (April 2, 2018, 6:23 PM EDT) -- In a recent TaxVox blog, my Urban-Brookings Tax Policy Center colleague Eric Toder showed that the 2017 Tax Cuts and Jobs Act, P.L. 115-97, effectively upended the key principle of the Tax Reform Act of 1986, namely that an ideal revenue system should tax a broad base of income at low rates. But then he implied TCJA's new "schedular" system that applies different tax rates, or schedules, to different types of income may be the best way policymakers can avoid the distortions and economic inefficiencies given the practical inability to include all income in the tax base....

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