What Will Happen to the Trump Tax Cuts?

News Analysis
The tax reforms of 2017 made substantial changes to business taxes, including a permanent reduction of the corporate income tax rate, from 35 percent to 21 percent.
Starting this year, however, some provisions of the tax law will expire, which will have an impact on corporate investment decisions. While Republicans want to maintain these measures, tax experts foresee a political battle after the November midterm elections over whether or not to keep them.
The Tax Cuts and Jobs Act (TCJA) permitted a 100 percent bonus depreciation, which allowed companies to immediately deduct the full cost of most business investments, such as equipment and machinery. This is one of the most significant provisions in the tax law that incentivizes companies to invest, according to the right-leaning Tax Foundation. The provision is set to begin phasing out after the end of 2022, and will fully expire by the end of 2026….}