This paper uses a multi-country economic model based on U.S. and Canadian data to examine how corporate income tax (CIT) cuts affect income inequality. It finds that CIT cuts can widen income gaps both within and between countries, especially due to differences in equity ownership across borders. While reducing barriers to capital mobility can help ease this inequality, lowering trade costs has minimal impact. The OBBB makes the corporate tax rate cut permanent.
See also: OBBB Breakdown: 3 to 5 Trillion Dollar Debt Increase