The Effect of the Corporate Tax Cuts and Jobs Act of 2017 on American Businesses

The United States Congress recently passed the Tax Cuts and Jobs Act of 2017, which included slashing the corporate tax rate from 35% to 21%. As a result, many CEOs chose to pass on the expected tax savings to their employees in the form of a year-end bonus. Many of the bill’s supporters say this is just the start of companies being able to invest more in their employees.