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Tax 2018: Requiem For Ability To Pay, Alice G. Abreu
Tax 2018: Requiem For Ability To Pay, Alice G. Abreu
Loyola of Los Angeles Law Review
Enactment of the TCJA was followed by a mad dash to understand its effects. The speed and process of enactment left no time for serious attempts to analyze whether the TCJA transforms the income tax system in any fundamental way. This Essay is a first step in that analysis. Although some of the most important changes I discuss are set to expire or phase out after 2025, understanding their policy implications is important, not only because they are the law now but also because Congress may extend them, perhaps indefinitely.
The TCJA has changed the way the tax system operationalizes …