Assessing the Impact of Tax Reform: Remarks from Senate Finance Committee Chairman Orrin Hatch (R-UT)

Event Summary

On Thursday morning at AEI, Senate Finance Committee Chairman Orrin Hatch (R-UT) gave remarks on the recently passed Tax Cuts and Jobs Act. He discussed the impact of the new tax plan and what it means for the American economy moving forward.

Following Chairman Hatch’s remarks, an expert panel moderated by AEI’s Alan Viard gave their opinions on the tax reform plan. First, Kyle Pomerlau of the Tax Foundation argued that one of the negative aspects of the new tax plan is the temporary nature of the individual side of the law, which creates uncertainty and instability for taxpayers in the future. Next, Maya MacGuineas of the Committee for a Responsible Federal Government argued that there was real progress on base broadening and that there were positive changes on the state and local deduction and on the home mortgage interest deduction. AEI’s Alex Brill discussed the three consequences of the increase in the standard deduction. Finally, Martin Sullivan of Tax Analysts discussed the effect of rising interest rates and deficits after the enactment of the new tax plan.

—Isabelle Staff

Event Description

In December, Congress passed the Tax Cuts and Jobs Act, the most sweeping overhaul of America’s tax code in more than 30 years. How will the reduction in the corporate income tax rate and other features of the new tax law affect the US economy?

Please join AEI for remarks by Senate Finance Committee Chairman Orrin Hatch (R-UT) on the impact of the Tax Cuts and Jobs Act. After Chairman Hatch’s remarks, an expert panel will discuss the legislation further.

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