Can Tax Cuts Spur Economic Growth?
Republicans in Congress are working on legislation for major tax reform. Their plan would cut the corporate tax rate and simplify individual income taxes by trimming deductions and reducing rates. Republicans and many economists argue that such reforms would boost the economy and substantially raise wages. Other economists have doubts about the proposed changes, given our large budget deficit and the apparently healthy economy.
What will be the impact of tax reform on output, investment, and wages? Which corporate and individual reforms are most likely to spur growth? Kevin Hassett will address these questions in an interview, and the panel will comment on the economics of tax reform and the current legislation moving through Congress.