Corporate Tax Dynamics and Political Challenges

This chapter explores the promises made regarding corporate tax rates during the campaign, evaluating proposals for lower rates and their implications on manufacturing in the U.S. It delves into the complexities of international tax laws, the impact of the Tax Cuts and Jobs Act, and the political obstacles facing tax legislation in the early Biden administration. Additionally, it addresses the broader implications of election results on international tax policy and the intricate relationship between tariffs and corporate tax law amid a rising budget deficit.