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Tax rates were cut; tax revenue was not. The federal government is expecting $26 billion more in tax revenue than in 2017.
by rukittenme 8y ago
Tax rates were cut; tax revenue was not. The federal government is expecting $26 billion more in tax revenue than in 2017.
- marcell 8y agoThat’s a bit semantics as it’s looking at just one year, and in any case doesn’t look at the delta from the old law. Edit: IIRC the law had some incentives to onshore money at special tax rates, which may cause a one-time bump in revenues.
- greenburger 8y agoThat may have been the estimate, but so far receipts are not keeping pace with 2017. Depending on your reference tax year revenues are 3% - 8% lower than 2017 thus far [1]. [1] http://www.crfb.org/blogs/tax-bill-did-not-cause-revenue-rise http://www.crfb.org/blogs/tax-bill-did-not-cause-revenue-ris...