The Trump Administration enacted tax reform in December 2017 with the passage of the Tax Cuts and Better Jobs Act (please see a summary along with recent trends in certain provisions proposed to become permanent athttps://taxfoundation.org/tax-reform-explained-tax-cuts-and-jobs-act/andhttps://taxfoundation.org/making-the-tax-cuts-and-jobs-act-individual-income-tax-provisions-permanent/), included in the reform act a reduction in lower the individual tax rate for top-tier earners from 39.6% to 35% and cutting the corporate tax rate to 15%.

Explain how this change in taxes affects consumption, aggregate demand, and investment spending. With this in mind, should this be enacted?