Vestas: Är glada över att skattekrediten blir kvar

The Tax Cuts and Jobs Act (TCJA), colloquially known as the Trump Tax Cuts, is a United States Congressional bill to amend the Internal Revenue Code of 1986, effectively altering the rate of taxation for individuals and businesses. It is the major tax reform advocated by congressional Republicans and the Trump administration. Major elements include reducing tax rates for individuals and businesses; increasing the standard deduction and family tax credits; limiting the mortgage interest deduction and deductions for state and local income taxes and property taxes; limiting the Alternative Minimum Tax for individuals and eliminating it for corporations; reducing the number of estates impacted by the estate tax; and repealing the individual mandate of the Affordable Care Act (ACA). The non-partisan Congressional Budget Office (CBO) reported that under the Act, individuals and pass-through entities like partnerships and S-corporations would receive approximately $1,125 billion in net benefits (i.e., net tax cuts offset by reduced healthcare subsidies) over ten years, while corporations would receive approximately $320 billion in benefits. The individual and pass-through tax cuts fade over time and become net tax increases starting in 2027, while the corporate tax cuts are permanent. This enabled the Senate to pass the bill with only 51 votes, without the need to defeat a filibuster, under the budget reconciliation process. The CBO estimated that implementing the Act would add an estimated $1.455 trillion to the national debt over ten years, or about $1.0 trillion after macroeconomic feedback effects, in addition to the $10 trillion increase forecast under the current policy baseline and existing $20 trillion national debt. The non-partisan Joint Committee on Taxation estimated that the GDP level would be 0.8% percent higher, employment level would be 0.6% higher, and personal consumption level would be 0.6% higher during the 2018–2027 period on average due to the Act. These are higher levels, not higher annual growth rates, so these are relatively minor economic impacts over ten years. The distribution of impact from the final version of the Act by individual income group varies significantly based on the assumptions involved and point in time measured. In general, businesses and upper income groups will mostly benefit regardless, while lower income groups will see the initial benefits fade over time or be adversely impacted. For example, the Joint Committee on Taxation estimated that: During 2019, each income group would receive a tax cut (i.e., a lower average tax rate) relative to current law. However, in 2021 those income groups earning $10,000-30,000 (24% of taxpayers) would pay more in taxes (a higher average tax rate). In 2023 and 2025, those income groups earning $0-$30,000 (34% of taxpayers) would pay more in taxes, while those earning $30,000-$40,000 (9% of taxpayers) would pay the same amount. In 2027, income groups below $75,000 (65% of taxpayers) would pay more in taxes, while tax cuts remain for those earning over $75,000. The Tax Policy Center (TPC) estimated 72% of taxpayers would be adversely impacted in 2019 and beyond, if the tax cuts are paid for by spending cuts separate from the legislation, as most spending cuts would impact lower- to middle-income taxpayers and outweigh the benefits from the tax cuts. TPC also estimated that the bottom 80% of taxpayers (income under $149,400) would receive 35% of the benefit in 2018, 34% in 2025 and none of the benefit in 2027, with some groups incurring costs. The final version also impacts healthcare by repealing the ACA individual mandate, with up to 13 million fewer persons covered with health insurance and higher insurance premiums on the ACA exchanges. The Congressional Budget Office reported that the deficit increase of $1.4 trillion in the Senate bill could trigger automatic spending reductions in specified categories of up to $150 billion per year over the next ten years, including $25 billion in Medicare. This is due to the 2010 Statutory Pay-as-You-Go Act (PAYGO). The Senate requires 60 votes to waive PAYGO requirements, which would mean Republicans and Democrats would have to agree to waive the rule. If the PAYGO rule is not waived, these spending cuts would be automatically implemented. Critics in the media, think tanks, and academia assailed the bill in terms of its adverse impact (e.g., higher budget deficit, higher trade deficit, worse income inequality, lower healthcare coverage, and higher healthcare costs) and the misrepresentations made by its advocates. It is among the least popular major legislation in recent U.S. history, with approximately 32% approval, nearly all of it Republican. The House passed the final bill on December 19, 2017, though for procedural reasons a re-vote will need to be held. The Senate passed the final version on December 20 in a 51-48 vote, and that final version was passed by the House of Representatives, also on December 20, 2017. It will be sent to the president to be signed into law.