The 2017 federal tax law changes were controversial from the beginning. The bill was essentially written in secret, without the benefit of public hearings, and opponents, though they hadn’t seen even a draft, lambasted the bill as a giveaway to “the rich” that would massively increase the deficit and the national debt.
|George Yin, an expert on federal tax law, presented a balanced assessment of the bill’s likely consequences on individuals, on businesses and on the economy. His analysis includes both a lay explanation of tax-law arcana such as “the Byrd rule” and an even-handed, practical critique of the assessments of the bill by its supporters and its opponents.
Professor Yin was formerly chief of staff to Congress’ Joint Committee on Taxation (known colloquially as “Joint Tax”), a nonpartisan body that helps draft tax legislation, analyzes it and prepares official revenue estimates concerning its effects. Prior to that he was tax counsel to the U.S. Senate Finance Committee. He is a graduate of the University of Michigan, the University of Florida, and the George Washington University Law School.
Mr. Yin spoke at the Wednesday September 12, 2018 meeting of the Senior Statesmen of Virginia. The meeting was held at the Senior Center in Charlottesville. Following the presentation, questions were taken from the audience. The program was moderated by SSV board member Bob McGrath.