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How Are Tax Cuts Affecting Corporations?
When the Tax Cuts and Jobs Act was passed in 2017, the corporate tax rate dropped from 35 percent to 21 percent, making it the biggest tax overhaul since 1986.
Analysis examining the efficacy of the bill and its effect on American competitiveness worldwide has been streaming in ever since, and one argument stands out — that the bill has allowed U.S. corporations to regain their footing worldwide, creating their own type of diplomacy.
Company-to-company deals are being made worldwide again, and this makes trade deals, like NAFTA, which currently hangs in the balance, less important to finalize back at home.
To discuss that idea, The Show was joined by Christine McDaniel, a senior research fellow at the Mercatus Center at George Mason University.