Actually this is per the CBO. Which has never been close to a long term projection. There is really two tax bills. One is the reduction in corporate taxes which was duly needed. US coprporatoons were playing games to keep cash and earnings offshore. IE Apple Computer which has its intellectual capital residing in Ireland. This is now not allowed. Also US companies were moving there domicile to other countries. This will stop that. The idea is that companies were investing more in other countries and this will make it more advantageous to invest here. We will see. There will be more company profits that will actually stay in the US.
The other part of the tax bill is for individuals. This one is crazy. The US has low unemployment and doesn’t need anymore Demand. Should have saved for a future recession. However this was a political vote giveaway. People of all incomes will see there salary income go up.
Finally as a sidenote there are the passthru rules. . This is a tax accountants retirement package. Certain entities get a certain percentage of their income taxed at zero up to a certain amount. The idea here was that half of US employment works for Corporations and the other half work for pass thrus

There is other stuff in the bill. But the idea is that you will get more investment and workers will have more money to spend. The only thing I can guarantee is the the CBO projections are incorrect. This is way to complicated to model. Lots of moving parts and behavioral issues on individuals and companies. Happy New Year to all.