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A differentiated view of the new U.S. tax bill
The Trump administration's long-overdue effort at tax reform – the Tax Cuts and Jobs Act – has gotten a bad rap from its critics. While they focus on its alleged favors toward the super-rich, the media have overlooked its benefits to small and medium-sized companies – the family firms that form the backbone of the American economy. Europe could learn a thing or two about this approach to boosting growth.