The Tax Cuts and Jobs Act and the Tax Code

Do you think that the new tax act helped or further complicated the tax code?
I think that the new tax act (The Tax Cuts and Jobs Act) further complicated the tax code. The TCJA "changed deductions, depreciation, expensing, tax credits and other tax items that affect businesses."(IRS, 2022) While I feel that the TCJA was drafted with good intentions for everyone to benefit, it was mostly thought of with businesses in mind, and the working class left behind. There are 23 provisions set to possibly expire by the end of 2025, which will negatively harm more than 60% of taxpayers. If we want to strive for a better economy, we must change our complex tax code.
The constant changing of the tax code is confusing. Taxpayers may feel as if they are well off now under the new law, but many who do not read the current tax laws, may not know that these tax breaks will possibly end, and we are back to 2017 converted to 2026 tax rates.
Have we become more competitive with other countries?
Since the new act, I think the U.S. has become more competitive with other countries. With the corporate tax rate being reduced from 35% to 21%, the U.S. is at a better competitive advantage to gain more access to information, technology, and capital gains. "Businesses are likely to expand their operations within U.S. borders, which means employing American workers. More money in American pockets! In order to stay competitive, we must learn from the countries within the OECD (Organization for Economic Cooperation and Development), but I think the U.S. could do better by being more aggressively competitive.
"Forty years ago the U.S. was dominant, accounting for over half of all multinational investment in the world. With a dominant role, we were free to make decisions about our tax system essentially on the basis of a closed economy. Moreover, our trade partners generally followed our lead in tax policy." (Olson, 2021)
We must tap into new innovations, that countries within the OECD are smart to follow, as they once followed our lead.
Why is international tax so important to the U.S. tax code?
International tax is so important to the U.S Tax code because it determines the way we do business internationally, and how we can economically grow from importing, exporting, and trading goods and services to other countries. International tax "can dramatically affect business decision making, job creation and retention, plant location, competitiveness, and the long-term health of the U.S. economy."
By participating in international tax, we are raising the growth of our financial economy, and creating new jobs for our citizens. When the economy wins, we win!