Of course it did. I showed it's impact several times, and all the left does is throw hissy fit after hissy fit about it. Just like they will do now.
https://www.nationalreview.com/2023...s-act-actually-spurred-investment-and-hiring/
But here we are six years later, and evidence is starting to pile up from independent economists whose analyses find that the corporate-tax cuts from the Tax Cuts and Jobs Act had a meaningful, positive effect on fixed investment.
Patrick Kennedy, an assistant professor at the University of Chicago who has access to IRS micro-data of firms (alongside co-authors Christine Dobridge, Paul Landefeld, and Jake Mortenson), compares C-Corps who received the corporate-tax cuts to S-Corps who did not receive as substantial of a tax cut. The increases in fixed capital investment (think purchases of plant, property, and equipment), along with increased hiring following the tax cuts, resulted in “reductions in marginal income tax rates cause increases in sales, profits, investment, and employment, with responses driven by firms in capital-intensive industries.” Corporate-tax cuts mean increased hiring of individuals, including those below the median income. In this light, corporate-tax cuts can be viewed as an anti-poverty, pro-worker policy.
https://www.nationalreview.com/2023...s-act-actually-spurred-investment-and-hiring/
But here we are six years later, and evidence is starting to pile up from independent economists whose analyses find that the corporate-tax cuts from the Tax Cuts and Jobs Act had a meaningful, positive effect on fixed investment.
Patrick Kennedy, an assistant professor at the University of Chicago who has access to IRS micro-data of firms (alongside co-authors Christine Dobridge, Paul Landefeld, and Jake Mortenson), compares C-Corps who received the corporate-tax cuts to S-Corps who did not receive as substantial of a tax cut. The increases in fixed capital investment (think purchases of plant, property, and equipment), along with increased hiring following the tax cuts, resulted in “reductions in marginal income tax rates cause increases in sales, profits, investment, and employment, with responses driven by firms in capital-intensive industries.” Corporate-tax cuts mean increased hiring of individuals, including those below the median income. In this light, corporate-tax cuts can be viewed as an anti-poverty, pro-worker policy.
