The Tax Cut and Jobs Act, 2017

The changes made by the Tax Cut and Jobs Act, 2017 to the tax provisions have changed tax rate for 2018 and people are getting a first hand experience of what it means to them. Go over the Act and address the questions below:

1. What are the major changes made to the tax provisions by the Act?
2. What impact is it likely to have on our GDP and government's budget?
3. How have the changes in taxes affected you personally?
4. Does everyone benefit from the changes in tax provisions or does it favor one group over others?
5. What changes do you agree and disagree with?
6. If you had the power to revise the Act, what changes would you make?