President Donald Trump and Republicans are betting the 2017 tax overhaul will invigorate the U.S. economy after a long but slow expansion, putting controversial economic theories about growth to a crucial test.
A large cut in the corporate tax rate is designed to spur investment and hiring by businesses. Lower individual rates and fewer breaks for households are designed make the economy more efficient and put more money in the pockets of people to decide on their own whether to spend or save. Revamping tax laws governing...
Source : https://www.wsj.com/articles/the-new-tax-law-how-will-the-tax-overhaul-affect-the-economy-1518543924