Tax Cuts and Jobs Act (2017):
https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act> The Act contains provisions that would open 1.5 million acres (6,100 km2) in the Arctic National Wildlife Refuge to oil and gas drilling
These people tried to sell our national parks, cut revenue, and increased expenses.
And also this bill changed the rules for R&E Amortization.
From "Ask HN: How are you handling Section 174 changes for bootstrapped companies?" (2023) https://news.ycombinator.com/item?id=34627712 :
> To be clear, you will eventually get the taxes you pay back over the next 5 years. But how are bootstrapped companies without access to large capital reserves or investment supposed to come up with the money to pay these tax bills while they wait it out? For every dollar you spend on making software, you've now got to have 30+ cents in reserve just to pay the tax bill for the year!
Q: "Did the 2017 tax cut—the Tax Cuts and Jobs Act—pay for itself?" (2020)
https://www.brookings.edu/articles/did-the-2017-tax-cut-the-...
A: No. The TCJA did not pay for itself.
> Did the TCJA spur enough growth to maintain federal revenue levels?
> The right question: What would revenues have been without the TCJA?
