In 2017, Congress reduced the corporate tax rate to 21%, lowering the highest rate in the industrialized world and putting American businesses on a more level playing field with their global competitors.

In the next two years, after the tax cuts went into effect, the U.S. economy boomed, with increased capital investment, more jobs, and more income growth. Working people benefited tremendously after the tax cut with record-breaking wage increases, lower unemployment rates, and falling poverty levels. The corporate rate reductions worked to boost wages, create jobs, and lift people out of poverty, helping people who needed it the most.