Which of the following is a true statement

regarding the $2017$ Tax Cuts and Jobs Act's

reduction of the corporate income tax rate from

$35\%$ to $21\%,$ and the interplay of the US corporate

income tax rate in determining a US taxpayer's

FTCL under $904,$ assuming foreign taxes remain

the same?

The US corporate income tax rate reduction has no

effect on the FTCL calculation.

The US corporate income tax rate reduction has the

effect of reducing the FTCL$,$ thereby making it more

difficult to utilize creditable foreign taxes to reduce the

corporation's US income tax liability.

The US corporate income tax rate reduction now makes

US taxpayers indifferent to the amount of foreign

income taxes they pay.

The US corporate income tax rate reduction makes it

easier for US taxpayers to utilize their foreign tax

credits, because the rate reduction causes the FTCL to

increase.