This article explores recent evidence on the relationship between the corporate statutory tax rate and corporate tax receipts among developed economies and then discusses the potential efficiency gains from a large reduction in the corporate tax rate

The US tax code has eroded over time with the explosion of endless special provisions, such as distortionary deductions and ineffective credits. Now is the time to take a good look at reforming it. This Outlook outlines six simple — and bipartisan — changes to the tax code that can help the...