In the News

The tax cut isn’t trickling down to workers

Eleven months after the passage of the Tax Cuts and Jobs Act, Andy Green and Galen Hendricks reflect on the law's detrimental effect on America's working class.

Authors

  • Andy Green
  • Galen Hendricks

Nearly one year ago, the Republican Congress passed and the president signed the controversial and partisan Tax Cuts and Jobs Act (TCJA). Proponents sold this law as a middle-class tax cut that would dramatically increase business investment, raise wages, and simplify the tax code.

But more than 11 months later, there is little sign that any of these promises will be fulfilled. Instead, it is increasingly clear that the tax law isn’t just a wasteful giveaway — it is harming the economy, workers, and the U.S. fiscal position in important ways.

The above excerpt was originally published in MarketWatch. Click here to view the full article.

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Authors

Andy Green

Senior Fellow

Galen Hendricks

Research Associate