Trump's Tax Reform Plan

The Study's Methodology

The study's methodology was primarily focused on doing database searches on the top business periodicals. The search was conducted in an iterative fashion to extract the most recent publications dated in 2017 that addressed the concept of President Trump signing the contentious tax plan law. The Academy of Management Journal, Journal of International Business Studies, Academy of Management Review, Journal of Business Ethics, and Journal of Business Management were among the journals sorted. The search was also focused on determining the contentious replies that the initiative has gotten since it was passed, as well as the critical examination of the impact it would have on citizens.

The Search Process

The search term that was used in the research criterion was related to "Trump tax," "citizen tax," "2017 tax cut," "effects of Trump tax cut," and "tax cut by President Trump." There was no need for including specific keywords in the search criterion box because the issue at stake under investigation is multifaceted and it would be unrealistic to use one specific word to imply the subject. It was found that a relatively small number of studies have since been done and published in academic journals. It was thus necessary to include top magazine and media articles in the analysis because of the paucity of literature on the theme under investigation. It was thus necessary to retrieve the journals from diverse fields, which included the use of business, economic, social policy, politics, and international relations. It was appropriate to review the reference list of each of the articles to ensure that only the authentic articles were included in the research.

The Review Process

The review process was then conducted independently to read each of the articles that were selected for the analysis. The findings would them the recorded in a sample rough draft to ensure there was consistently in the flow of the information obtained. Two bases of classifying the data obtained were used so that there was a choice between the material that was relevant and that which was irrelevant as it contained general information on the subject. The articles that were included were strictly those that were relevant to the investigation and that highlighted that critical response that the signing of the bills would have on the American citizen. The main challenges that were common were selected and tabulated and land for use as the key basis for describing the subject and the effect of the tax cut by the President. The business articles that were written appeared to be more relevant for the assessment because of the in-depth analysis that seemed to have been done on a majority of them. The use of other sources such as blogs was ruled out because of the likelihood of author bias in describing the significance of the subject. It was also appropriate to exclude the use of book because it would offer general information that would not be relevant for the research under study. The result was that a majority of the articles that were obtained were from the top newspaper articles in that were nevertheless crucial because of the depth of coverage of the subject. It would thus mean that the information gathered from different sources would provide a foundation for thinking and the statement that were critical as pertains the subject. In the literature review process, the assumption that has made was that the themes that were apparent in those articles that were grouped under one category were conceptually appropriate for the analysis.

The Results

The results that were obtained from the search process were relevant in understanding the complexity of the issue at stake. It was found that much of the literature that has been published on the subject is focused on the details that the bill went through before its signing as pertains the role of the Senate and the US House of Representatives The houses acted in response to the plans that Trump had issued on September 27, 2017 (Urbach). The authors of the articles used in the review also focused on the complexity of the concept of the income tax brackets from the current to the Senate approval factor. The overall finding is that the house plan initiative would result in a substantial reduction in the tax brackets for an America citizen with observers noting a three to four-fold reduction in the tax brackets. Much of the details that are covered the role of the Senate (Urbach).

Concerns and Future Implications

Research also indicates that there are particular big takeaways that should be of concern to the taxpayer. The budget is expected to balance within the next 10 years, which follows that the spending will might extent do deep that it could result in an annual budget deficit in the next decade. Examples of the cost include the $191 cut in what was perceived as the Supplemental Nutrition Assistance Program also called the food stamps which represents an estimated 25 percent of the cut. It is supposed that the gap will be catered for by meeting about 25 percent of the cut. The Trump Administration have since issued an alert that claims that it will meet the deficiency by creating a setting where there will be new work requirements even though it has been argued to be a likely contributor to the elimination of the benefit amounts. Further indications show that there will be cuts on the Temporary Assistance for Needy Families that will amount to approximately $211.6 billion which is representative of 13 percent of the whole program. Reports also indicate there it is anticipated that costs to the federal agencies are poised to rise to about significant levels. The specific indications include the "1.4 percent cut to the Environmental Protection Agency budget, 29.1 percent cut to the State Department, 20.5 percent to Agriculture, 19.8 percent to Labor, 16.2 percent to Health and Human Services, 15.8 percent to Commerce, 13.2 percent to Housing and Urban Development, 12.7 percent to Transportation, and 10.9 percent to Interior" (Urbach). The interesting segment is that there is not tax that will be used to generate the money because it is expected that Trump's proposed tax reform package will pass and ensure that there is a revenue-neutral outcome.

Possibility of Changes

Finally, concerns have been raised over the possibility that the changes will indeed take place considering the stakes in place. The general consensus from the research is that the answer is a resounding no due to several factors. One of the reasons that have been cited are related to the fact that the budget by the president is not a law and as such, it is not implemented as a government policy. It is further critical to outline that the effects are more confusing to the observer than ever because the procedure that has been stipulated in not always followed in practice and is thus prone to being taken advantage of through circumventing the process. The primary goal of the budget is to create a formal plan for the administration's stance on the issues related to fiscal policy. The detailing in process covers the specific policy changes that the Trump rule expects, and the nature in which the changes are expected to determine the way the government spends in future and the manner in which the individual citizen will be affected.

Passing of the Budget

It is, however, unlikely that the Republicans will go ahead and pass the budget because it is not likely to push for it so fast. Instead the one that will be operative is termed the "reconciliation instructions" that will ensure that there is the passage of the health reforms not necessarily through covering the subject of a filibuster. Arguments have been raised with the most general conclusion being that "It's a startling, ambitious, and at times sloppy document that, for all its faults, clearly defines what the Trump administration wants to do with the federal government. And what the administration wants to do is dramatic, to say the least" (Urbach). Thus, before the health reforms are done it is only a proposal that will not be effected until the 2018 fiscal years. It is thus a matter of time before Americans understand the true effect of the tax cuts.

Works Cited

Urbach, Jasson. “How Trump’s Plan To Cut UN Funding Would Help The World’s Poor.” The Federalist. N.p., 2017. Web.