Statements (166)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:legislation
|
| gptkbp:affects |
gptkb:competition
consumer spending economic inequality financial markets foreign investment investment in infrastructure state budgets housing market tax incentives retirement savings tax credits charitable contributions business investment federal revenue alternative minimum tax taxpayer behavior tax compliance costs corporate tax rate estate tax exemption pass-through entities state and local tax deductions individual income tax |
| gptkbp:aims_to |
reduce tax rates
|
| gptkbp:amended_by |
gptkb:Internal_Revenue_Code
itemized deductions estate tax exemption |
| gptkbp:analysis |
gptkb:tax_policy
|
| gptkbp:budget |
$1.5 trillion
|
| gptkbp:controversy |
wealth inequality
impact on healthcare funding impact on federal deficit benefits to wealthy individuals |
| gptkbp:created |
gptkb:Opportunity_Zones
|
| gptkbp:depicted_in |
controversial legislation
major legislative achievement |
| gptkbp:effective_date |
January 1, 2018
|
| gptkbp:enacted_by |
gptkb:United_States_Congress
|
| gptkbp:faced |
legal challenges
|
| gptkbp:has_limitations |
state and local tax deduction
|
| https://www.w3.org/2000/01/rdf-schema#label |
Tax Cuts and Jobs Act
|
| gptkbp:impact |
federal deficit
|
| gptkbp:incentivized |
capital investment
|
| gptkbp:included |
business tax incentives
repatriation tax tax cuts for small businesses international tax provisions |
| gptkbp:includes |
child tax credit expansion
provisions for energy efficiency improvements provisions for small businesses provisions for health savings accounts standard deduction increase provisions for tax credits for electric vehicles provisions for tax credits for low-income housing provisions for education savings repeal of individual mandate provisions for business expensing provisions for tax deductions for medical expenses international tax provisions deduction for qualified business income provisions for 529 plans provisions for opportunity zones provisions for renewable energy credits provisions for tax-free withdrawals from 529 plans reduction of corporate tax rate reduction of tax on repatriated earnings provisions for tax incentives for research and development provisions for tax deductions for teachers' expenses |
| gptkbp:includes_provisions_for |
repatriation of foreign earnings
business expensing |
| gptkbp:increased |
child tax credit
standard deduction pass-through business income deduction deficit in short term |
| gptkbp:influenced |
business investment decisions
economic growth 2018 midterm elections |
| gptkbp:influences |
economic growth
wage growth |
| gptkbp:introduced |
new tax brackets
|
| gptkbp:is_affected_by |
pass-through entities
state and local tax deductions higher-income earners |
| gptkbp:is_aimed_at |
simplify tax code
stimulating investment |
| gptkbp:is_analyzed_in |
gptkb:Congressional_Budget_Office
academic studies |
| gptkbp:is_criticized_for |
gptkb:tax_policy
favoring wealthy individuals |
| gptkbp:is_debated_in |
public forums
|
| gptkbp:is_designed_to |
stimulate economic growth
|
| gptkbp:is_discussed_in |
Congressional hearings
|
| gptkbp:is_evaluated_by |
think tanks
|
| gptkbp:is_implemented_in |
gptkb:2018
|
| gptkbp:is_opposed_by |
gptkb:Democratic_Party
tax reform advocates |
| gptkbp:is_reviewed_by |
gptkb:media_outlets
|
| gptkbp:is_set_in |
sunset provisions
|
| gptkbp:is_subject_to |
legal challenges
|
| gptkbp:is_supported_by |
gptkb:Republican_Party
|
| gptkbp:is_targeted_at |
middle-class taxpayers
middle-class tax relief |
| gptkbp:led_to |
increased corporate profits
increased federal revenue |
| gptkbp:modifications |
tax brackets
mortgage interest deduction |
| gptkbp:passes_through |
December 20, 2017
|
| gptkbp:permanent_changes |
corporate taxes
|
| gptkbp:promotes |
simplification of tax code
|
| gptkbp:proposed_by |
gptkb:House_Republicans
|
| gptkbp:provides |
temporary tax relief
|
| gptkbp:reduces |
alternative minimum tax
corporate tax rate tax rates for individuals |
| gptkbp:related_to |
economic growth
|
| gptkbp:repealed_by |
Affordable Care Act individual mandate
|
| gptkbp:replaces |
personal exemptions
|
| gptkbp:resulted_in |
wage growth
|
| gptkbp:revenue_loss |
gptkb:federal_government
|
| gptkbp:rounds |
personal exemptions
|
| gptkbp:shelf_life |
2025
|
| gptkbp:signed_by |
gptkb:Donald_Trump
December 22, 2017 |
| gptkbp:sparked |
debate on tax policy
|
| gptkbp:sunset_provisions |
2025
|
| gptkbp:support |
gptkb:Republican_Party
|
| gptkbp:temporary_changes |
individual taxes
|
| gptkbp:updates |
tax treatment of foreign income
|
| gptkbp:was |
implemented in phases
subject to public debate subject to public opinion polls debated in Congress subject to amendments discussed in academic studies discussed in media analyzed by economists a topic in political campaigns a response to economic conditions a major legislative priority for the Trump administration a significant legislative achievement for Republicans a focal point of tax policy debates a key part of tax reform discussions a significant change in U. S. tax law an election issue in 2018 analyzed for its effects on job creation analyzed for its impact on the economy analyzed for its long-term effects associated with increased stock buybacks criticized for benefiting corporations examined for its impact on income inequality linked to wage growth opposed by Democratic Party part of Trump's economic agenda passed in December 2017 reviewed by tax policy experts reviewed by the Joint Committee on Taxation supported by Republican Party the largest tax overhaul since 1986 |
| gptkbp:was_a_response_to |
economic challenges
|
| gptkbp:was_part_of |
Trump administration's agenda
|
| gptkbp:was_supported_by |
business groups
|
| gptkbp:bfsParent |
gptkb:President_Barack_Obama
gptkb:Republican_Party gptkb:United_States_Congress gptkb:Donald_Trump |
| gptkbp:bfsLayer |
3
|