The Tax Cuts and Jobs Act (TCJA) passed in December of 2017 had a sweeping

impact on tax provisions, both domestic and international and business and

personal.

The overall result of the TCJA was meant to be revenue neutral (meaning overall

taxes to the government would not be material increase or decrease). For the

purposes of this essay, let's assume this is true.

We discussed some of the new international tax provisions of the TCJA and the

provisions they have replaced. Keeping these provisions in mind along with the

reduction in the corporate tax rate to a flat 21%, please discuss in detail the

purpose of the TCJA, its objectives, and how each of the new provisions achieve

those objectives.