Achieving Fiscally Responsible Tax Reform: Top 20 Proposals to Reduce Wasteful Spending, Close Tax Loopholes, and Save up to $4 Trillion

Abstract

Enacted in 2017, the Tax Cuts and Jobs Act (TCJA) stimulated economic growth, delivered tax relief for hardworking Americans, and made significant progress toward simplifying the tax code. Now, Congress is facing tough decisions about how to deal with the expiration of many of those crucial but expensive reforms. This report presents 20 priority reformsâ—â10 spending cuts and 10 tax loophole closersâ—âthat would generate up to $4 trillion in savings to help advance the permanent extension of the TCJA without adding to the deficit