We need comprehensive tax reform that rewards work, encourages investment, and ensures a level playing field for U.S. companies competing in foreign markets. Trump gave us the Tax Cuts and Jobs Act of 2017 (TCJA), and it leaves a lot to clean up.
Trump branded his cuts as a "middle-class" tax cut, but the top five percent received more than half the pie. The top one percent of families alone collected 27 percent of the benefits, about as much as the middle 60 percent of families combined (28 percent).
Trump sold the cuts by promising that helping the rich would trickle down to middle-class families. It hasn't. Trump promised his cuts would pay for themselves by generating massive economic growth. They haven't.
We need to fix the TCJA.