TCJA Will Lead To Fewer IP Investments, Panelist Says
By Joshua Rosenberg (May 23, 2018, 6:40 PM EDT) -- Last year's tax overhaul legislation will lead to fewer investments in intellectual property during the next 10 years, a former Obama administration economist told a tax conference Wednesday in Washington, D.C.
While the Tax Cuts and Jobs Act will lead to increased investments in equipment and nonresidential structures, the law will encourage American business entities to invest less in intellectual property, Ben Harris, former chief economist and economic adviser to Vice President Joe Biden, said during a Tax Policy Center conference.
The TCJA "doesn't fare particularly well for [intellectual property]," Harris said, citing a report from the Congressional Budget Office. "And...
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