The Republican Tax Cuts and Jobs Act of 2017 has fixed many of our tax system’s problems. It has repatriated billions of dollars and thousands of jobs that had been moved overseas to escape America’s high corporate tax rate. It has stimulated investment and job creation, raised wages, added employee benefits such as parental leave, and inspired millions of one-time employee bonuses worth thousands of dollars each. It has cut taxes for 80-90 percent of all taxpayers.
How else can we improve our new tax system? Continue to make it fairer, simpler, and more honest. We can close special interest loopholes and end tax codes that allow cheating. When we’re done, payroll employees should feel no need for professional help to file their taxes, and every taxpayer should feel we all pay our fair share.