Accountants and lawmakers split on who benefited from 2017 tax law; witnesses propose targeted reforms for Main Street

The joint hearing showcased a clear divide between members and witnesses over who benefited most from the Tax Cuts and Jobs Act of 2017 and how Congress should respond to expiring provisions.

Democratic lawmakers and Anne Zimmerman, a CPA and co‑chair of Small Business for America’s Future, argued that many TCJA benefits are skewed toward higher earners and larger firms. Zimmerman cited analyses and client examples to say Section 199A’s benefits were uneven: “The evidence clearly shows that for most small businesses, they have not” seen transformative benefits,…