Read about the Tax Cuts & Job Act of 2018, signed into law in December of 2017. With respect to US corporations, the act lowered the corporate income tax rate to 21% from 35%. In addition, for many years, US corporations held money abroad (earned abroad), because it would cost 35% in federal tax to repatriate those dollars back into the US. Under the Tax Cuts & Job Act of 2018, corporations could repatriate Billions of dollars of fundsas the Act provided for a tax on repatriated dollars of approximately 15%.

Answer the questions :

1. Potential and Realized economic impact of these changes
2. Fundamental fairness of these reductions (pro & con)
3. President-Elect Bidens position on corporate income tax rates and the reasons he articulates for any changes