#特朗普税改 Trump Tax Reform: Policies, Impacts, and Controversies

On December 2, 2017, the U.S. Senate passed the Trump tax reform bill, attracting global attention. This tax reform is considered the largest since the Reagan administration, focusing on simplifying the tax code, stimulating investment and consumption, and enhancing the competitiveness of U.S. corporate tax rates.

In terms of personal income tax, there were adjustments in tax brackets and the highest tax rate; the corporate income tax was significantly reduced from 35% to 20%, encouraging the repatriation of overseas profits; the taxation system also shifted from global to territorial.

This tax reform has far-reaching effects. While it may stimulate the economy and attract capital in the short term, it has also sparked significant controversy. For instance, a report from the U.S. think tank TPC indicates that in the long run, its impact on economic growth is minimal and it may even trigger inflation and increase the budget deficit. The Trump tax reform reflects the “America First” strategy and has brought shock and reflection to the global economic landscape and policy-making in various countries.