<p>Report: TCJA Has Caused Fiscal Damage, Failed to Meet Promises</p>

Report: TCJA Has Caused Fiscal Damage, Failed to Meet Promises

Center for American Progress

The Tax Cuts and Jobs Act has primarily benefited the wealthy, had a minimal-at-best impact on employment and real wages, caused the federal deficit to rise, added complexities to the tax code, and encouraged corporate stock buybacks, the Center for American Progress said in a December 20 review of the tax law one year after passage.

<p>The Tax Cuts and Jobs Act has primarily benefited the wealthy, had a minimal-at-best impact on employment and real wages, caused the federal deficit to rise, added complexities to the tax code, and encouraged corporate stock buybacks, the Center for American Progress said in a December 20 review of the tax law one year after passage.</p>