The Trump Tax Cuts: Promises Made, Promises Kept?

The White House and Republican lawmakers made big promises when they passed a sweeping tax law in President Donald Trump’s first year in office, predicting it would boost the economy and make the tax code simpler and fairer.

The Tax Cuts and Jobs Act of 2017, passed with only Republican votes, became the signature legislative achievement of the Trump administration. Tax rates for individuals and corporations were cut, new incentives were created, the standard deduction and estate tax exemption were increased, and the U.S. moved toward a territorial tax system.

Congressional Republicans have touted the law’s success, while ...