US International Corporate Taxation after the Tax Cuts and Jobs Act
探讨美国国际税收中保护税基与提升跨国公司竞争力之间的张力，分析2017年《减税与就业法案》的国际税收条款及其效果，指出该法案未能解决根本矛盾，而全球最低税协议可能带来突破。
The root dilemma that informs the past, present, and future of US international taxation is the tension between two desiderata: protecting the corporate tax base from erosion and ensuring the competitiveness of US multinational firms in the world economy. This article begins by exploring that tension, discussing the evidence behind these competing policy goals. It then considers the international tax provisions of the Tax Cuts and Jobs Act of 2017. TCJA enacted transformative changes in US corporate tax policy, but it did not resolve long held policy concerns. While research on TCJA is in early stages, evidence indicates that TCJA substantially reduced corporate tax revenues, that TCJA’s international provisions (as a whole) raised less revenue than expected, that offshoring and profit shifting remain large policy concerns, that changes in US multinational company competitiveness were mixed, and that underlying trends in wages and investment did not change due to TCJA. While TCJA was unable to resolve the tension between competitiveness and tax base protection, the Pillar 2 international tax agreement shows more promise in that regard. As countries throughout the world implement a “country-by-country” minimum tax on multinational income of 15 percent, this has the potential to disrupt long-standing arguments about international corporate taxation.