The Yale Law Journal


Reflections on the 2017 Tax Act

25 Oct 2018

The 2017 Tax Act, sometimes called the Tax Cuts & Jobs Act, has been heralded by some as historic reform and by others as Armageddon. This Collection analyzes the Act, exploring the process by which it was passed, the values that undergird its policies, and how specific provisions will affect the structure of the U.S. and global economy moving forward.


Foreword—The 2017 Tax Cuts: How Polarized Politics Produced Precarious Policy

Michael J. Graetz

This Essay argues that the 2017 Tax Act provides neither an effective nor stable solution to the nation’s economic and fiscal challenges.


Critiquing (and Repairing) the New International Tax Regime

Rebecca M. Kysar

The 2017 Tax Act significantly changed the U.S. international tax regime. The legislation, however, failed to solve existing problems and opened the door to new ones. This Essay addresses these shortcomings, and outlines recommendations for a better approach.


International Cooperation and the 2017 Tax Act

Susan C. Morse

Some have criticized the 2017 Tax Act for lowering the corporate tax rate. This Essay argues instead that Congress deserves credit for bringing the U.S. rate in line with other OECD countries, potentially saving the corporate tax by establishing a minimum global rate.


Not So Fast: 163(j), 245A, and Leverage in the Post-TCJA World

Robert E. Holo, Jasmine N. Hay & William J. Smolinski

The Tax Cuts & Jobs Act moves the United States from a worldwide system of taxation to a quasi-territorial regime. This Essay reviews these changes and reflects on their likely effect on cross-border financing structures.


The Social Meaning of the Tax Cuts and Jobs Act

Linda Sugin

The 2017 Tax Act reflects values that were not openly debated in the legislative process. This Essay unearths these values and argues that justice in taxation is impossible without a full and honest evaluation of the law’s underlying principles.