title: Nissan Stadium

text: In February 2022, the Titans paused ongoing renovations to the stadium, citing the rising costs and the antiquated structure, to explore the possibility of replacing the facility in the near future. They would later commit to a full replacement in late 2022, releasing renderings for their new stadium, which will possibly open in 2026.


title: Nissan Stadium

text: During its construction, the stadium had no official name, though it was generally referred to as "The East Bank Stadium", a reference to the stadium's location on the eastern bank of the Cumberland River. Upon its completion, it was given the name "Adelphia Coliseum" in a 15-year, $30 million naming rights arrangement with Adelphia Business Solutions, a subsidiary of the larger Adelphia telecommunications company. However, after Adelphia missed a required payment and subsequently filed for bankruptcy in 2002, the agreement was abandoned and the stadium became known simply as "The Coliseum" for four years. (Adelphia itself was dissolved in 2006.)


title: Nissan Stadium

text: A naming rights deal with Nashville-based Louisiana-Pacific was inked on June 6, 2006. Louisiana-Pacific, which markets itself as "LP Building Products", paid $30 million over 10 years for naming rights. LP's influence inside the stadium led to the creation of the LP Building Zones in 2007, located beneath the giant scoreboards from Daktronics at the north and south ends of the stadium. The concession stands and restrooms in these two areas were decorated to look like suburban homes using LP products.


title: Nissan Stadium

text: On June 24, 2015, car manufacturer Nissan, which has its North American headquarters just south of Nashville in Franklin and operates a large manufacturing plant in nearby Smyrna, and headquartered in Nishi-ku, Yokohama, Japan, bought the naming rights for the stadium in a 20-year contract, rebranding the stadium as Nissan Stadium. As part of the sponsor agreement, a 2016 Nissan Titan pickup truck was placed next to the stadium scoreboard.


title: Nissan Stadium

text: The Tennessee Titans have posted an impressive record at Nissan Stadium since moving there in 1999, including winning their first 13 games before losing to the Baltimore Ravens on November 12, 2000. Overall in a total of 181 games, the Titans are 100–76 in the regular season and 2–3 in playoffs at Nissan Stadium. Since moving to Nissan Stadium, the Titans have made the playoffs nine times, played in three AFC Championship Games, and appeared in one Super Bowl (XXXIV).


title: Nissan Stadium

text: On January 8, 2000, one of the most memorable and debated plays in NFL history took place at then-Adelphia Coliseum. The "Music City Miracle" (as it has come to be known) was a last-minute trick play on a kickoff return that resulted in a touchdown and catapulted the Titans past the Buffalo Bills to the Divisional Playoffs. It also ensured that the Titans would go undefeated in the first season in the team's new home. The victory was seen in front of a franchise-record crowd.


title: Nissan Stadium

text: Nissan Stadium regularly hosts soccer matches featuring the United States men's national team as well as by the women's national team and visiting professional clubs. The venue was first used for soccer on April 20, 2004, in an exhibition game between the Los Angeles Galaxy of Major League Soccer and Tecos UAG of the Mexican Primera División. Since then Nissan Stadium has been used for friendly matches by the U.S. women versus Canada in 2004, a return of Tecos against rival F.C. Atlas in 2005, and the U.S. men versus Morocco in 2006. The stadium helped host the CONCACAF men's 2008 and 2012 qualifying tournaments for the 2008 and 2012 Summer Olympics.


title: Nissan Stadium

text: On April 1, 2009, the U.S. men's national team played a World Cup qualifier beating Trinidad and Tobago, 3–0. The match saw Jozy Altidore become the youngest American to score a hat trick for the national team. The U.S. men returned March 29, 2011 falling to Paraguay in a friendly before a record crowd of 29,059 – the largest to attend a soccer game in the state of Tennessee.


title: Nissan Stadium

text: The record crowd for a soccer game played in Tennessee is 56,232 and was set on July 29, 2017, when English Premier League clubs Manchester City and Tottenham played an exhibition match at Nissan Stadium.


title: Nissan Stadium

text: Major League Soccer club Nashville SC began playing at the stadium in February 2020, and played their final game there in 2021.


title: Nissan Stadium

text: Nissan Stadium can also serve as a large concert venue. The main stage for the annual CMA Music Festival, held every June, is located in the stadium.


title: Tax Cuts and Jobs Act of 2017

text: The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, , is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates for businesses and individuals, increasing the standard deduction and family tax credits, eliminating personal exemptions and making it less beneficial to itemize deductions, limiting deductions for state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing the alternative minimum tax for individuals and eliminating it for corporations, doubling the estate tax exemption, and cancelling the penalty enforcing individual mandate of the Affordable Care Act (ACA).


title: Tax Cuts and Jobs Act of 2017

text: The Act is based on tax reform advocated by congressional Republicans and the Trump administration. The nonpartisan Congressional Budget Office (CBO) reported that under the Act individuals and pass-through entities like partnerships and S corporations would receive about $1.125 trillion in net benefits (i.e. net tax cuts offset by reduced healthcare subsidies) over 10 years, while corporations would receive around $320billion in benefits. The CBO estimated that implementing the Act would add an estimated $2.289trillion to the national debt over ten years, or about $1.891trillion after taking into account macroeconomic feedback effects, in addition to the $9.8trillion increase forecast under the current policy baseline and existing $20trillion national debt.


title: Tax Cuts and Jobs Act of 2017

text: Many tax cut provisions, especially income tax cuts, will expire in 2025, and starting in 2021 will increase over time; by 2027 this would affect an estimated 65% of the population and in that same year the law's provisions are set to be fully enacted, but the corporate tax cuts are permanent. The Senate was able to pass the bill with only 51 votes, without the need to defeat a filibuster, under the budget reconciliation process. The House passed the penultimate version of the bill on December 19, 2017. The Senate passed the final bill, 51–48, on December 20, 2017. On the same day, a re-vote was held in the House for procedural reasons; the bill passed, 224–201. The bill was signed into law by President Donald Trump on December 22, 2017. Most of the changes introduced by the bill went into effect on January 1, 2018, and did not affect 2017 taxes.


title: Tax Cuts and Jobs Act of 2017

text: Supporters argued that the law would increase GDP growth, increase levels of business investment, increase wage and salary income for households, that the tax cuts would pay for themselves, and that the law would simplify tax codes. Opponents argued that the law would result in adverse impacts, including a higher budget deficit, higher trade deficit, greater income inequality, and lower healthcare coverage and higher healthcare costs, and a disproportionate impact on certain states and professions. Critics also argued that advocates misrepresented the law. Some of the reforms enacted by the Republicans have become controversial within key states, particularly the $10,000 cap on state and local tax deductibility, and were challenged in federal court before being upheld. According to an aggregation of polls from Real Clear Politics, 34% of Americans were in favor of the new plan, 39% not in favor, and 28% unsure.


title: Tax Cuts and Jobs Act of 2017

text: According to a 2017 report by Tax Policy Center, taxes would be reduced by about $1,600 on average in 2018 and 2025. The top 20% of Americans by income were projected to receive roughly 65% of the tax savings. In the two years since the Act was passed, it has failed to pay for itself through increased economic growth, according to Maya MacGuineas, president of the Committee for a Responsible Federal Budget. According to Bloomberg, the Act has simplified the tax code for some, but not others, lowered corporate debt, led investment to temporarily increase before then declining, and brought money back from overseas, but did not bring back business activity.


title: Tax Cuts and Jobs Act of 2017

text: Under the law, there are numerous changes to the individual income tax, including changing the income level of individual tax brackets, lowering tax rates, and increasing the standard deductions and family tax credits while itemized deductions are reduced and the personal exemptions are eliminated.


title: Tax Cuts and Jobs Act of 2017

text: Most individual income taxes are reduced, until 2025. The number of income tax brackets remain at seven, but the income ranges in several brackets have been changed and most brackets have lower rates. These are marginal rates that apply to income in the indicated range as under current law (i.e., prior Public Law 115-97 or the Act), so a higher income taxpayer will have income taxed at several different rates. A different inflation measure (Chained CPI or C-CPI) will be applied to the brackets instead of the Consumer Price Index (CPI), so the brackets increase more slowly. This is effectively a tax increase over time, as people move more quickly into higher brackets as their income rises; this element is permanent.


title: Tax Cuts and Jobs Act of 2017

text: The standard deduction nearly doubles, from $12,700 to $24,000 for married couples. For single filers, the standard deduction will increase from $6,350 to $12,000. About 70% of families choose the standard deduction rather than itemized deductions; this could rise to over 84% if doubled. The personal exemption is eliminated—this was a deduction of $4,050 per taxpayer and dependent, unless it is in an estate or trust.


title: Tax Cuts and Jobs Act of 2017

text: The child tax credit (CTC) is doubled from $1,000 to $2,000, $1,400 of which will be refundable. There is also a $500 credit for other dependents, versus zero under current law. The lower threshold for the high-income phaseout for the CTC changes from $110,000 AGI to $400,000 for married filers.


title: Tax Cuts and Jobs Act of 2017

text: Mortgage interest deduction for newly purchased homes (and second homes) was lowered from total loan balances of $1million under current law to $750,000. Interest from home equity loans (aka second mortgages) is no longer deductible, unless the money is used for home improvements.


title: Tax Cuts and Jobs Act of 2017

text: The deduction for state and local income tax, sales tax, and property taxes ("SALT deduction") will be capped at $10,000. This has more impact on taxpayers with more expensive property, generally those who live in higher-income areas, or people in states with higher rates for state tax.


title: Tax Cuts and Jobs Act of 2017

text: The act zeroed out the federal tax penalty for violating the individual mandate of the Affordable Care Act, starting in 2019. (In order to pass the Senate under reconciliation rules with only 50 votes, the requirement itself is still in effect). This is estimated to save the government over $300billion, because up to an estimated 13million fewer people will have insurance coverage, resulting in the government giving fewer tax subsidies. It is estimated to increase premiums on the health insurance exchanges by up to 10%. It also expands the amount of out-of-pocket medical expenses that may be deducted by lowering threshold from 10% of adjusted gross income to 7.5%, but only for 2017 (retroactively) and 2018. Effective January 1, 2019, the threshold will increase to 10%.


title: Tax Cuts and Jobs Act of 2017

text: No changes are made to major education deductions and credits, or to the teacher deduction for unreimbursed classroom expenses, which remains at $250. The bill initially expanded usage of 529 college savings accounts for both K–12 private school tuition and homeschools, but the provision regarding homeschools was overruled by the Senate parliamentarian and removed. The 529 savings accounts for K-12 private school tuition provision was left intact.


title: Tax Cuts and Jobs Act of 2017

text: Taxpayers will only be able to deduct a casualty loss if it occurs in a federally declared disaster area.


title: Tax Cuts and Jobs Act of 2017

text: Alimony paid to a former spouse will no longer be deductible by the payer, and alimony payments will no longer be included in the recipient's gross income. This effectively shifts the tax burden of alimony from the recipient to the payer, increases the amount of tax collected on the income transferred as alimony, and simplifies the audit trail for the IRS. This provision is effective for divorce and separation agreements signed after December 31, 2018.


title: Tax Cuts and Jobs Act of 2017

text: Employment-related moving expenses will no longer be deductible, except for moves related to active-duty military service.


title: Tax Cuts and Jobs Act of 2017

text: The miscellaneous itemized deduction, including tax-deductions for tax-preparation fees, investment expenses, union dues, and unreimbursed employee expenses, are eliminated.


title: Tax Cuts and Jobs Act of 2017

text: Fewer people will pay the Alternative minimum tax because the act increases the exemption level from $84,500 to $109,400 for married taxpayers filing jointly and from $54,300 to $70,300 for single taxpayers.


title: Tax Cuts and Jobs Act of 2017

text: The act exempts the discharge of certain student loans due to the death or total permanent disability of the borrower from taxable income. This provision applies only to debt discharged during tax years 2018 through 2025.


title: Tax Cuts and Jobs Act of 2017

text: The act now taxes survivors benefits that were allocated to the children of a deceased military service member as if they were for a trust or estate, which can subject them to an income tax rate of up to 37%.


title: Tax Cuts and Jobs Act of 2017

text: For deaths occurring between 2018 and 2025, estates that exceed $11.2million are subject to a 40% estate tax at time of death, increased from $5.6million previously. For a married couple aggregating their exemptions, an estate exceeding $22.4million is subject to a 40% estate tax at time of death.


title: Tax Cuts and Jobs Act of 2017

text: The corporate tax rate was changed from a tiered tax rate ranging from 15% to as high as 39% depending on taxable income to a flat 21%, while some related business deductions and credits were reduced or eliminated. The Act also changed the U.S. from a global to a territorial tax system with respect to corporate income tax. Instead of a corporation paying the U.S. tax rate for income earned in any country (less a credit for taxes paid to that country), each subsidiary pays the tax rate of the country in which it is legally established. In other words, under a territorial tax system, the corporation saves the difference between the generally higher U.S. tax rate and the lower rate of the country in which the subsidiary is legally established. "Bloomberg" journalist Matt Levine explained the concept, "If we're incorporated in the U.S. [under the old global tax regime], we'll pay 35 percent taxes on our income in the U.S. and Canada and Mexico and Ireland and Bermuda and the Cayman Islands, but if we're incorporated in Canada [under a territorial tax regime, proposed by the Act], we'll pay 35 percent on our income in the U.S. but 15 percent in Canada and 30 percent in Mexico and 12.5 percent in Ireland and zero percent in Bermuda and zero percent in the Cayman Islands." In theory, the law would reduce the incentive for tax inversion, which is used today to obtain the benefits of a territorial tax system by moving U.S. corporate headquarters to other countries.


title: Tax Cuts and Jobs Act of 2017

text: One-time repatriation tax of profits in overseas subsidiaries is taxed at 8%, 15.5% for cash. U.S. multinationals have accumulated nearly $3trillion offshore, much of it subsidiaries in tax-haven countries. The Act may encourage companies to bring the money back to the U.S. at these much lower rates.


title: Tax Cuts and Jobs Act of 2017

text: The law also eliminated the net operating loss carryback, a procedure by which a company with significant losses could receive a tax refund by counting the losses as part of the previous year's tax return. They were considered important in providing liquidity during a recession. The provision was cut in order to finance the tax cuts in the act, and was one of the largest offsets in the law.


title: Tax Cuts and Jobs Act of 2017

text: Additionally, the domestic production activities deduction was eliminated by the Tax Cuts and Jobs Act.


title: Tax Cuts and Jobs Act of 2017

text: There is a 25% excise tax on compensation paid to certain employees of churches and other tax-exempt organizations. The excise tax applies to any organization that is tax-exempt under 501(c) or 501(d), a Section 521(b)(1) farmer's cooperative, Section 527 political organizations, and organizations that have Section 115(1) income that is earned by performing essential government functions.


title: Tax Cuts and Jobs Act of 2017

text: The excise tax applies to compensation paid to certain employees in excess of $1,000,000 during the year. The employees covered under this rule are the organization's five highest-compensated employees and any employees who previous had this status after 2016. Compensation is exempt from the excise tax if the compensation is paid to medical doctors, dentists, veterinarians, nurse practitioners, and other licensed professionals providing medical or veterinary services. Compensation includes all current compensation, qualifying deferred compensation, non-qualifying deferred compensation without substantial risk of forfeiture, income under Section 457(f), and severance payments, but excluding Roth retirement contributions.


title: Tax Cuts and Jobs Act of 2017

text: An organization may also be subject to the 21% excise tax if an organization has a deferred compensation plan in which benefits are spread over several years and then vest all at once. Severance payments exceeding triple an employee's average salary during the last five years may also be subject to the 21% excise tax.


title: Tax Cuts and Jobs Act of 2017

text: There is a 1.4% excise tax on investment income of certain private tax-exempt colleges and universities. The excise tax applies only if the institution has at least 500 tuition-paying students and more than half the students are located in the United States. The excise tax applies if the institution and its related organizations have an endowment with an aggregate fair-market value at the end of the preceding tax year of at least $500,000 per full-time student, excluding assets used directly in carrying out institution's tax-exempt purpose.


title: Tax Cuts and Jobs Act of 2017

text: This provision has been referred to as an endowment tax, and it has been estimated that it applies to around 32 universities.


title: Tax Cuts and Jobs Act of 2017

text: Some provisions from the earlier House bill were dropped that would have taxed graduate student tuition waivers, tuition benefits for children and spouses of employees, and student loan interest. A Senate Parliamentarian ruling on December 19 changed the exemption threshold from 500 tuition-paying students to 500 total students. Endowment funds used to carry out a college's tax-exempt purpose are excluded from the asset threshold, but Internal Revenue Service has not issued regulations specifically defining this term.


title: Tax Cuts and Jobs Act of 2017

text: In addition, a tax deduction is now disallowed entirely for charitable contributions if the donor receives rights to receive seats to college athletic events. Formerly, 80% of the charitable contribution was considered to be a tax-deductible charitable contribution.


title: Tax Cuts and Jobs Act of 2017

text: Unrelated business income is now increased by the amount a church or other tax-exempt organization pays or incurs for qualifying parking or qualifying transportation benefits for its employees. This type of unrelated business income includes only tax-free transportation benefits provided to employees, not transportation benefits that are included in the employee's taxable wages.


title: Tax Cuts and Jobs Act of 2017

text: Unrelated business income does not result if the employer provides free parking for employees, the majority of the parking spaces are available to the general public during the organization's normal business hours, and none of the parking spots reserved for its employees. If some parking spots are reserved for employees, then unrelated business income results from a portion of the total parking expenses, based on the percentage of parking spots that are reserved for its employees.


title: Tax Cuts and Jobs Act of 2017

text: The Internal Revenue Service has clarified that the employer should use a reasonable method to determine the value of parking benefits provided to its employees. The value of the parking spaces should include repairs, maintenance, utility costs, insurance, property taxes, interest, snow and ice removal, leaf removal, trash removal, cleaning, landscape costs, parking attendant expenses, security, and rent or lease payments, but not depreciation expense.


title: Tax Cuts and Jobs Act of 2017

text: A church or other tax-exempt organization would need to file Form 990-T and pay unrelated business income tax if its total unrelated business income exceeds $1,000 during the fiscal year. Netting the unrelated business income from transportation with other unrelated business income in order to reduce or eliminate the amount of tax due is allowed.


title: Tax Cuts and Jobs Act of 2017

text: Some states and jurisdictions require all employers to provide these benefits to their employees, which may result in an organization being required to choose between paying unrelated business income tax to the federal government or being in noncompliance with state and local laws.


title: Tax Cuts and Jobs Act of 2017

text: Unrelated business income is now separately computed for each trade or business activity of the church or other tax-exempt organization. Losses on one trade or business can no longer be used to offset gains on another trade or business for unrelated business income purposes. Net operating losses generated before January 1, 2018, and carried forward to other tax years are not affected and can be used to offset gains from any trade or business activity. Some affected organizations are considering incorporating for-profit subsidiaries and then moving all unrelated business income to the for-profit subsidiaries, which might make all the unrelated business income count as the same category of trade or business activity, namely "income from for-profit subsidiaries". Unrelated business taxable income from transportation benefits is not considered a trade or business activity and will be applied after totaling all of the organization's unrelated business income overall.


title: Tax Cuts and Jobs Act of 2017

text: Net operating losses are now limited to 80% of taxable income for tax years beginning after December 31, 2017. Unrelated business income tax is now assessed at the flat rate of 21%, rather than at a graduated tax rate, except for unrelated business income earned on or before December 31, 2017. Net operating losses for tax years ending after December 31, 2017 may now be carried forward to future tax years indefinitely.


title: Tax Cuts and Jobs Act of 2017

text: More individuals will choose to take the standard deduction rather than itemize their tax deductions because of the increase in standard deduction and limitation on itemized deduction for state and local taxes. As a result, these individuals will not see a tax savings from donations to churches or other eligible nonprofit organizations, and churches and other organizations may receive fewer charitable contributions.


title: Tax Cuts and Jobs Act of 2017

text: The indexed estate tax exemption was doubled, which means that people may not need to include charitable contributions being written into their will in order to reduce the estate tax paid, which is expected to reduce the amount of charitable contributions given to churches and nonprofit organizations overall.


title: Tax Cuts and Jobs Act of 2017

text: The Tax Cuts and Jobs Act of 2017 allows a tax credit for employers that provide paid family and medical leave to employees. A 501(c)(3) organization is not eligible for the tax credit.


title: Tax Cuts and Jobs Act of 2017

text: The Act contains a variety of miscellaneous tax provisions, many advantaging particular special interests. Miscellaneous provisions include:


title: Tax Cuts and Jobs Act of 2017

text: The Act contains provisions that would open in the Arctic National Wildlife Refuge to oil and gas drilling. This major push to include this provision in the tax bill came from Republican Senator Lisa Murkowski. The move is part of the long-running Arctic Refuge drilling controversy; Republicans had attempted to allow drilling in ANWR almost 50 times. Opening the Arctic Refuge to drilling "unleashed a torrent of opposition from conservationists and scientists." Democrats and environmentalist groups such as the Wilderness Society criticized the Republican effort.


title: Tax Cuts and Jobs Act of 2017

text: The bill was introduced in the United States House of Representatives on November 2, 2017 by Congressman Kevin Brady, Republican representative from Texas. On November 9, 2017, the House Ways and Means Committee passed the bill on a party-line vote, advancing the bill to the House floor. The House passed the bill on November 16, 2017, on a mostly-party line vote of 227–205. No Democrat voted for the bill, while 13 Republicans voted against it. On the same day, companion legislation passed the Senate Finance Committee, again on a party-line vote, 14–12. On November 28, the legislation passed the Senate Budget Committee, again on a party-line vote. In the early morning hours of December 2, 2017, the Senate passed its version of the bill by a 51–49 vote. Bob Corker (R–TN) was the only Republican senator to vote against this version of the bill and it received no Democratic Party support.


title: Tax Cuts and Jobs Act of 2017

text: Differences between the House and Senate bills were reconciled in a conference committee that signed the final version on December 15, 2017. The final version contained relatively minor changes from the Senate version. The House passed the penultimate version of the bill on December 19, 2017. In the December 19 vote, the same Republicans who voted against the original House bill still voted against it (with the exception of Tom McClintock, who voted in favor on December 19 after having voted against the original House bill). However, several provisions of the bill violated the Senate's procedural rules, which meant that the House of Representatives needed to re-vote with the objectionable provisions removed. The Senate passed the final bill, 51–48, on December 20, 2017; all Senate Republicans voted for the bill except Sen. John McCain, who was absent for health reasons. On the same day, a re-vote was held in the House; the bill passed, 224–201. President Trump then signed the bill into law on December 22, 2017.


title: Tax Cuts and Jobs Act of 2017

text: There were important differences between the House and Senate versions of the bills, due in part to the Senate reconciliation rules, which required that the bill impact the deficit by less than $1.5 trillion over ten years and have minimal deficit impact thereafter. (The Byrd Rule allows Senators to block legislation if it would increase the deficit significantly beyond a ten-year period.) For example:


title: Tax Cuts and Jobs Act of 2017

text: In final changes prior to approval of the Senate bill on December 2, additional changes were made (among others) that were reconciled with the House bill in a conference committee, prior to providing a final bill to the President for signature. The Conference Committee version was published on December 15, 2017. It had relatively minor differences compared to the Senate bill. Individual and pass-through tax cuts expire after ten years, while the corporate tax changes are permanent.


title: Tax Cuts and Jobs Act of 2017

text: The tax cuts are expected to increase deficits thereby stimulating the economy, increasing GDP and employment, relative to a forecast without those tax cuts. CBO reported on December 21, 2017: "Overall, the combined effect of the change in net federal revenue and spending is to decrease deficits (primarily stemming from reductions in spending) allocated to lower-income tax filing units and to increase deficits (primarily stemming from reductions in taxes) allocated to higher-income tax filing units". The nonpartisan Joint Committee on Taxation also estimated that the GDP level would be 0.7% higher (in aggregate, not per annum) during the 2018–2027 period relative to the CBO baseline forecast, employment level would be 0.6% higher and personal consumption level would be 0.6% higher during the 2018–2027 period on average due to the Act. These are higher levels, not higher annual growth rates, so these are relatively minor economic impacts over 10 years.


title: Tax Cuts and Jobs Act of 2017

text: The distribution of impact by individual income group varies significantly based on the assumptions involved and point in time measured. In general, businesses and upper income groups will benefit, while lower income groups will see the initial benefits fade over time or be adversely impacted. For example, the CBO and JCT estimated that:


title: Tax Cuts and Jobs Act of 2017

text: The Tax Policy Center (TPC) estimated that the bottom 80% of taxpayers (income under $149,400) would receive 35% of the benefit in 2018, 34% in 2025 and none of the benefit in 2027, with some groups incurring costs. TPC also estimated 72% of taxpayers would be adversely impacted in 2019 and beyond, if the tax cuts are paid for by spending cuts separate from the legislation, as most spending cuts would impact lower- to middle-income taxpayers and outweigh the benefits from the tax cuts.


title: Tax Cuts and Jobs Act of 2017

text: In 2018, companies spent a record-setting $1.1 trillion to buy back their own stock, and a majority of major firms (84%, as polled by the National Association for Business Economics) did not alter their hiring practice or their investment in their business in response to the tax cuts they received. This pattern was evident even in early 2018, when Bloomberg reported (based on an analysis of 51 S&P 500 companies) that an estimated 60% of corporate tax savings was going to shareholders, while 15% was going to employees. A Bloomberg Economics analysis found that, while business investment did increase in 2018, relatively little of that activity could be attributed to lower taxes. A study by the Federal Reserve Bank similarly found that corporations bought-back stock and paid down debt, rather than undertake either new capital expenditure or investment in research & development.


title: Tax Cuts and Jobs Act of 2017

text: The law also impacts healthcare by repealing the ACA individual mandate, resulting in projections of up to 13million fewer persons covered by health insurance as some younger, healthier persons will likely choose not to participate. Those in the remaining less healthy pool will pay higher insurance costs on the ACA exchanges, which will result in additional persons dropping coverage.


title: Tax Cuts and Jobs Act of 2017

text: The non-partisan Joint Committee on Taxation of the U.S. Congress published its macroeconomic analysis of the final version of the Act, on December 22, 2017:


title: Tax Cuts and Jobs Act of 2017

text: The Tax Policy Center (TPC) reported its macroeconomic analysis of the November 16 Senate version of the Act on December 1, 2017:


title: Tax Cuts and Jobs Act of 2017

text: The tax cut was enacted three months into the 2018 fiscal year. Corporate tax receipts for the full fiscal year ended September 2018 were down 31% from the prior fiscal year, the largest decline since records began in 1934, except for during the Great Recession when corporate profits, and hence corporate tax receipts, plummeted. Analysts attributed the fiscal 2018 decline to the tax cut.


title: Tax Cuts and Jobs Act of 2017

text: The Council of Economic Advisers had estimated in October 2017 that the corporate tax cut of the TCJA would increase real median household income by $3000 to $7000 annually, but during the first year following enactment of the tax cut the figure increased by $553, which the Census Bureau characterized as statistically insignificant.


title: Tax Cuts and Jobs Act of 2017

text: CBO reported that the budget deficit was $779billion in fiscal year 2018, up $113billion or 17% from 2017. The budget deficit increased from 3.5% GDP in 2017 to 3.9% GDP in 2018. Revenues fell by 0.8% GDP due in part to the Tax Act, while spending rose by 0.4% GDP. Total tax revenues in dollar terms were similar to 2017, but fell from 17.2% GDP to 16.4% GDP (0.8% GDP), below the 50-year average of 17.4%. Individual income tax receipts rose by $96billion as the economy grew, rising from 8.2% GDP in 2017 to 8.3% GDP in 2018. Corporate tax revenues fell by $92billion (31%) due primarily to the Tax Act, from 1.5% GDP in 2017 to 1.0% GDP in 2018, half the 50-year average of 2.0% GDP. Fiscal year 2018 ran from October 1, 2017 to September 30, 2018, so the deficit figures did not reflect a full year of tax cut impact, as they took effect in January 2018.


title: Tax Cuts and Jobs Act of 2017

text: CBO forecast in January 2017 (just prior to Trump's inauguration) that revenues in fiscal year 2018 would be $3.60 trillion if laws in place as of January 2017 continued. However, actual 2018 tax revenues were $3.33 trillion, a shortfall of $270billion (7.5%) relative to the forecast. The CBO claimed that because of offsetting changes in different sources of revenue caused by the Act, the level of revenue for the fiscal year 2018 remained similar rather than declining, despite the fact that the CBO had also amended its forecasts to state that there would be $3.53 trillion in June 2017 (making the approximate shortfall $216billion) and annual tax revenues experienced a similar shortfall the previous year, when the CBO predicted $3.51 trillion in revenues, and a shortfall of $196billion occurred. However, the CBO similarly revised its predictions for 2017 revenues in August 2016, making the shortfall $106billion for 2017.


title: Tax Cuts and Jobs Act of 2017

text: The non-partisan Congressional Budget Office (CBO) estimated in April 2018 that implementing the Act would add an estimated $2.289trillion to the national debt over ten years, or about $1.891trillion after taking into account macroeconomic feedback effects, in addition to the $9.8trillion increase forecast under the current policy baseline and existing $20trillion national debt.


title: Tax Cuts and Jobs Act of 2017

text: CBO reported on December 21, 2017, that: "Overall, the combined effect of the change in net federal revenue and spending is to decrease deficits (primarily stemming from reductions in spending) allocated to lower-income tax filing units and to increase deficits (primarily stemming from reductions in taxes) allocated to higher-income tax filing units."


title: Tax Cuts and Jobs Act of 2017

text: The Joint Committee on Taxation estimated the Act would add $1,456billion total to the annual deficits (debt) over ten years and described the deficit effects of particular elements of the Act on December 18, 2017:


title: Tax Cuts and Jobs Act of 2017

text: In a November 2017 survey of leading economists, only 2% agreed with the notion that a tax bill similar to those currently moving through the House and Senate would substantially increase U.S. GDP. The economists unanimously agreed that the bill would increase the U.S. debt.


title: Tax Cuts and Jobs Act of 2017

text: Federal corporate tax receipts fell from an annualized level of $409billion in Q1 2017 to $269billion in Q1 2018, a direct result of the Trump tax cuts.


title: Tax Cuts and Jobs Act of 2017

text: "The New York Times" reported in August 2019 that: "The increasing levels of red ink stem from a steep falloff in federal revenue after Mr. Trump’s 2017 tax cuts, which lowered individual and corporate tax rates, resulting in far fewer tax dollars flowing to the Treasury Department. Tax revenues for 2018 and 2019 have fallen more than $430 billion short of what the budget office predicted they would be in June 2017, before the tax law was approved that December."


title: Tax Cuts and Jobs Act of 2017

text: On December 21, 2017, the Congressional Budget Office (CBO) released its distribution estimate of the Act:


title: Tax Cuts and Jobs Act of 2017

text: CBO stated that lower income groups will incur costs, while higher income groups will receive benefits: "Overall, the combined effect of the change in net federal revenue and spending is to decrease deficits (primarily stemming from reductions in spending) allocated to lower-income tax filing units and to increase deficits (primarily stemming from reductions in taxes) allocated to higher-income tax filing units."


title: Tax Cuts and Jobs Act of 2017

text: The Tax Policy Center (TPC) reported its distributional estimates for the Act. This analysis excludes the impact from repealing the ACA individual mandate, which would apply significant costs primarily to income groups below $40,000. It also assumes the Act is deficit financed and thus excludes the impact of any spending cuts used to finance the Act, which also would fall disproportionally on lower income families as a percentage of their income.


title: Tax Cuts and Jobs Act of 2017

text: In December 2019, CBO forecast that inequality would worsen between 2016 and 2021, due in part to the Trump tax cuts and policies regarding means-tested transfers. Their report had several conclusions:


title: Tax Cuts and Jobs Act of 2017

text: According to the CBO, under the Senate version of the bill, businesses receive a $890billion benefit or 63%, individuals $441billion or 31%, and estates $83billion or 6%. U.S. corporations would likely use the extra after-tax income to repurchase shares or pay more dividends, which mainly flow to wealthy investors. According to the Center on Budget and Policy Priorities (CBPP), "Mainstream estimates conclude that more than one-third of the benefit of corporate rate cuts flows to the top 1% of Americans, and 70% flows to the top fifth. Corporate rate cuts could even hurt most Americans since they must eventually be paid for with other tax increases or spending cuts." Corporations have significant cash holdings ($1.9trillion in 2016) and can borrow to invest at near-record low interest rates, so a tax cut is not a prerequisite for investment or giving workers a raise. As of Q2 2017, corporate profits after taxes were near record levels in dollar terms at $1.77trillion annualized, and very high measured historically as a percentage of GDP, at 9.2%.


title: Tax Cuts and Jobs Act of 2017

text: In 2017, the Congressional Budget Office (CBO) compared the U.S. corporate tax rates (statutory and effective rates) as of 2012 across the G20 countries:


title: Tax Cuts and Jobs Act of 2017

text: "Bloomberg News" reported in January 2020 that the top six American banks saved more than $32 billion in taxes during the two years after enactment of the tax cut, while they reduced lending, cut jobs and increased distributions to shareholders.


title: Tax Cuts and Jobs Act of 2017

text: An Institute on Taxation and Economic Policy analysis indicated the Act has more of a tax increase impact on "upper-middle-class families in major metropolitan areas, particularly in Democratic-leaning states where taxes, and usually property values, are higher. While only about one-in-five families between the 80th and 95th income percentiles in most red states would face higher taxes by 2027 under the House GOP bill, that number rises to about one-third in Colorado and Illinois, around two-fifths or more in Oregon, Virginia, Massachusetts, New York and Connecticut, and half or more in New Jersey, California and Maryland..."


title: Tax Cuts and Jobs Act of 2017

text: The scoring by the organizations above assumes the tax cuts are deficit-financed, meaning that over ten years the deficit rises by $1.4trillion relative to the current law baseline; or $1.0trillion after economic feedback effects. However, if one assumes the tax cuts are paid for by per-household spending cuts, the distribution would be more unfavorable to lower-and middle-income persons.


title: Tax Cuts and Jobs Act of 2017

text: According to the Tax Policy Center, the bill's effect on the financial well-being of taxpayers vary based on different financing assumptions.


title: Tax Cuts and Jobs Act of 2017

text: Vox journalist Dylan Matthews argued that the first scenario would be most likely because most direct government spending is directed towards low-income households, and higher income households tend to receive tax breaks rather than direct expenditures. Report from Tax Policy Center stated that the first two scenarios "appear to most closely resemble current Administration and Congressional budget proposals."


title: Tax Cuts and Jobs Act of 2017

text: Republican politicians such as Paul Ryan have advocated for spending cuts to help finance the tax cuts, while President Trump's 2018 budget includes $2.1trillion in spending cuts over ten years to Medicaid, Affordable Care Act subsidies, food stamps, Social Security Disability Insurance, Supplemental Security Income, and cash welfare (TANF).


title: Tax Cuts and Jobs Act of 2017

text: The Senate bill repeals the individual mandate that requires all Americans under 65 to have health insurance or pay a penalty, effective starting in 2019. The CBO initially estimated that 13million fewer persons would have health insurance by 2025, including 8million fewer on the Affordable Care Act exchanges and 5million fewer on Medicaid. Fewer persons with healthcare means lower costs for the government, so CBO estimated over $300billion in savings. This allowed Republicans to increase the size of the tax cuts in the bill. Health insurance premiums on the exchanges could rise as much as 10 percentage points more than they would otherwise. CBO later revised this estimate in 2018 to 7million fewer insured by 2026.


title: Tax Cuts and Jobs Act of 2017

text: Leading Republicans supported the bill, including President Donald Trump and Vice President Mike Pence, and Republicans in Congress, such as:


title: Tax Cuts and Jobs Act of 2017

text: In the Senate, Republicans "eager for a major legislative achievement after the Affordable Care Act debacle ... have generally been enthusiastic about the tax overhaul."


title: Tax Cuts and Jobs Act of 2017

text: A number of Republican senators who initially expressed trepidation over the bill, including Ron Johnson of Wisconsin, Susan Collins of Maine, and Steve Daines of Montana, ultimately voted for the Senate bill.


title: Tax Cuts and Jobs Act of 2017

text: The Trump Administration's Council of Economic Advisors supported the bill claimed it would have significant economic benefits.


title: Tax Cuts and Jobs Act of 2017

text: President Trump and Treasury Secretary Mnuchin claimed the tax cuts would pay for themselves. However, later analysis showed this to be false, with revenues actually declining.


title: Tax Cuts and Jobs Act of 2017

text: President Trump's chief economic advisor Gary Cohn stated that "The wealthy are not getting a tax cut under our plan" and that the plan would cut taxes for low- and middle-income households. Further, Trump claimed that the tax plan "...was not good for [him] [personally]."


title: Tax Cuts and Jobs Act of 2017

text: Republican supporters of the tax bill characterized it as a simplification of the tax code. While some elements of the legislation have simplified the tax code, other provisions in fact added additional complexity. For most Americans, the process for filing taxes under the new legislation would be similar to what it was before.


title: Tax Cuts and Jobs Act of 2017

text: Democrats opposed the legislation, viewing it as a giveaway to corporations and high earners at the expense of middle class communities. Every House Democrat voted against the bill when it came to the House floor; they were joined by 13 Republicans who voted against it.


title: Tax Cuts and Jobs Act of 2017

text: The top congressional Democrats—Senate Minority Leader Chuck Schumer of New York and House Minority Leader Nancy Pelosi—strongly oppose the bill. Schumer said of the bill that "The more it's in sunlight, the more it stinks." Pelosi said the legislation was "designed to plunder the middle class to put into the pockets of the wealthiest 1 percent more money. ... It raises taxes on the middle class, millions of middle-class families across the country, borrows trillions from the future, from our children and grandchildren's futures to give tax cuts to the wealthiest and encourages corporations to ship jobs overseas."


title: Tax Cuts and Jobs Act of 2017

text: The 13 House Republicans who voted against the bill were mostly from New York, New Jersey, and California, and were opposed to the $10,000 cap on the state and local income tax deduction, which benefits those states.


title: Tax Cuts and Jobs Act of 2017

text: Billionaire and former Mayor of New York Michael Bloomberg called this tax bill an "economically indefensible blunder" arguing that companies would not invest more because of the tax cuts: "Corporations are sitting on a record amount of cash reserves: nearly $2.3 trillion. That figure has been climbing steadily since the recession ended in 2009, and it's now double what it was in 2001. The reason CEOs aren't investing more of their liquid assets has little to do with the tax rate."


title: Tax Cuts and Jobs Act of 2017

text: Bill Gates and Warren Buffett also thought that Trump's tax cut would not help businesses. In a CNBC interview, Buffett even said: "I don't need a tax cut in a society with so much inequality".


title: Tax Cuts and Jobs Act of 2017

text: In a letter made public on the November 12, 2017, more than 400millionaires and billionaires (which include George Soros and Steven Rockefeller) asked Congress to reject the Republican tax plan. They note that it would disproportionately benefit the wealthy, while adding at least $1.5 trillion in tax cuts to the current national debt. This deficit "would leave us unable to meet our country's current needs and restrict us in advancing any future investments," the letter continues.


title: Tax Cuts and Jobs Act of 2017

text: "The Economist" has also been critical of the tax cut and its lack of long-term vision: "The expiry of tax cuts for individuals is a ticking time-bomb in the tax code. It will explode just as America approaches a budget crisis, driven by rising spending on health care and pensions for the elderly. This gap will probably eventually be plugged by a combination of tax rises and spending cuts. But by cutting taxes now, Republicans have moved the starting point for any future negotiations.".


title: Tax Cuts and Jobs Act of 2017

text: "The Financial Times" argued that this bill was "built for plutocrats" as it would mainly benefit very high income households ("45 per cent of the tax reductions in 2027 would go to households with incomes above $500,000 – fewer than 1 per cent of filers"). It concluded by stating: "The US the world once knew is drowning in a tide of unconscionable and apparently unlimited greed. We are all now doomed to live with the unhappy consequences.".


title: Tax Cuts and Jobs Act of 2017

text: The Editorial Board of "The New York Times" vigorously opposed the bill: "This bill is bad enough. No less revolting is the dishonest and sneaky way it was written.". In an article published in August 2018, it noted that none of the benefits that the GOP promised had been delivered. Corporate investments did not increase, real wages were down and corporate tax revenue plummeted. The article ended with the following statement: "Today, many Republicans seem to realize that the tax cut has become a political liability. Even they realize that it doesn't do any of what they promised.".


title: Tax Cuts and Jobs Act of 2017

text: Editorial Boards of major US newspapers including "USA Today", "The Washington Post", "The Los Angeles Times", "The San Francisco Chronicle" and "The Boston Globe" also opposed the bill.


title: Tax Cuts and Jobs Act of 2017

text: Paul Krugman disputed the Administration's primary argument that tax cuts for businesses will stimulate investment and higher wages:


title: Tax Cuts and Jobs Act of 2017

text: In November 2017, the University of Chicago asked over 40 economists if U.S. GDP would be substantially higher a decade from now, if either the House or Senate bills were enacted, with the following results: 52% either disagreed or strongly disagreed, while 36% were uncertain and only 2% agreed.


title: Tax Cuts and Jobs Act of 2017

text: The Tax Policy Center estimated that GDP would be 0.3% higher in 2027 under the House bill versus current law, while the University of Pennsylvania Penn Wharton budget model estimates approximately 0.3–0.9% for both the House and Senate bills. The very limited effect estimated is due to the expectation of higher interest rates and trade deficits. These estimates are both contrary to the Administration's claims of 10% increase by 2027 (about 1% per year) and Senator Mitch McConnell's estimate of a 4.1% increase.


title: Tax Cuts and Jobs Act of 2017

text: Federal Reserve Bank of NY President and CEO William C. Dudley stated in January 2018: "While this legislation will reduce federal revenues by about 1 percent of GDP in both 2018 and 2019, I anticipate the boost to economic growth will be less than that. Most importantly, most of the tax cuts accrue to the corporate sector and to higher-income households that have a relatively low marginal propensity to consume. This suggests that a significant portion of the tax cuts will be saved, not spent."


title: Tax Cuts and Jobs Act of 2017

text: The Trump administration predicted the tax cut would spur corporate capital investment and hiring. One year after enactment of the tax cut, a National Association for Business Economics survey of corporate economists found that 84% reported their firms had not changed their investment or hiring plans due to the tax cut. Later in 2019, the Economic Policy Institute analyzed the data on business investment from the federal Bureau of Economic Analysis and concluded that, "if the TCJA’s corporate rate cuts were working, we would be seeing a permanent rise in investment. Instead, investment growth is cratering." Analysis conducted by "The New York Times" in November 2019 found that average business investment was lower after the tax cut than before, and that firms receiving larger tax relief increased investment less than firms receiving smaller tax relief. The analysis also found that since the tax cut firms increased dividends and stock buybacks by nearly three times as much as they increased capital investments.


title: Tax Cuts and Jobs Act of 2017

text: Corporate executives indicated that raising wages and investment were not priorities should they have additional funds due to a tax cut. A survey conducted by Bank of America-Merrill Lynch of 300 executives of major U.S. corporations asked what they would do with a corporate tax cut. The top three responses were that they would pay down debt, conduct stock buybacks, and conduct mergers. An informal survey of CEOs by Trump advisor Gary Cohn resulted in a similar response, with few hands raised in response to his request for them to do so if their company would invest more.


title: Tax Cuts and Jobs Act of 2017

text: Former Clinton cabinet Treasury Secretary Larry Summers referred to the analysis provided by the Trump administration of its tax proposal as "...some combination of dishonest, incompetent, and absurd." Summers wrote that the Trump administration's "central claim that cutting the corporate tax rate from 35 percent to 20 percent would raise wages by $4,000 per worker" lacked peer-reviewed support and was "absurd on its face."


title: Tax Cuts and Jobs Act of 2017

text: On December 20, 2017, the day the final bill was passed by the House, Wells Fargo, Fifth Third Bancorp and Western Alliance Bancorp announced they would raise the minimum wage of its workers to $15 an hour upon signing of the bill. A number of companies announced bonuses for workers, including AT&T which said it will give a $1,000 bonus to every single one of its 200,000 employees as a result of the Tax Cut bill. Democratic Senator Chuck Schumer stated that these were the exception to the rule and that AT&T was in litigation with the government over a pending merger. He stated: "There is a reason so few executives have said the tax bill will lead to more jobs, investments, and higher wages—because it will actually lead to share buybacks, corporate bonuses, and dividends."


title: Tax Cuts and Jobs Act of 2017

text: In the immediate aftermath of the passage of the Act, a relatively small number of corporations—many of them involved in mergers disputed by the government or regulatory difficulties—announced pay raises or bonuses to employees, although it is not clear they would not have done so without the tax cut (many companies award raises and bonuses early each year in the normal course of business, after their prior year earnings are known and their new budgets are put in place). About 18 companies in the S&P did so; when companies paid awards to employees, these were usually a small percentage of corporate savings from the Act. A January 2018 study from the firm Willis Towers Watson found that 80% of companies were not "considering giving raises at all." Bloomberg reported in March 2018 that an estimated 60% of corporate tax savings were going to shareholders, while 15% was going to employees, based on analysis of 51 S&P 500 companies. In July 2018, Bloomberg reported that real wages have actually fallen in the first quarter after the tax bill went into effect.


title: Tax Cuts and Jobs Act of 2017

text: "The New York Times" editorial board explained the tax bill as both consequence and cause of income and wealth inequality: "Most Americans know that the Republican tax bill will widen economic inequality by lavishing breaks on corporations and the wealthy while taking benefits away from the poor and the middle class. What many may not realize is that growing inequality helped create the bill in the first place. As a smaller and smaller group of people cornered an ever-larger share of the nation's wealth, so too did they gain an ever-larger share of political power. They became, in effect, kingmakers; the tax bill is a natural consequence of their long effort to bend American politics to serve their interests." The corporate tax rate was 48% in the 1970s and is 21% under the Act. The top individual rate was 70% in the 1970s and is 37% under the Act. Despite these large cuts, incomes for the working class have stagnated and workers now pay a larger share of the pre-tax income in payroll taxes.


title: Tax Cuts and Jobs Act of 2017

text: The share of income going to the top 1% has doubled, from 10% to 20%, since the pre-1980 period, while the share of wealth owned by the top 1% has risen from around 25% to 42%. Despite President Trump promising to address those left behind, the House and Senate bills would increase economic inequality:


title: Tax Cuts and Jobs Act of 2017

text: In 2027, if the tax cuts are paid for by spending cuts borne evenly by all families, after-tax income would be 3.0% higher for the top 0.1%, 1.5% higher for the top 10%, -0.6% for the middle 40% (30th to 70th percentile) and −2.0% for the bottom 50%.


title: Tax Cuts and Jobs Act of 2017

text: In November 2017, the OECD reported that the U.S. tax burden was lower in 2016 than the OECD country average, measured as a percentage of GDP:


title: Tax Cuts and Jobs Act of 2017

text: Journalist Justin Fox wrote in Bloomberg that Americans may feel financial pressure due to healthcare and college tuition costs, which are much higher than other OECD countries measured as a share of GDP, offsetting the benefit of the already lower tax structure.


title: Tax Cuts and Jobs Act of 2017

text: A potential consequence of the proposed tax reform, specifically lowering business taxes, is that (in theory) the U.S. would be a more attractive place for foreign capital (investment money). This inflow of foreign capital would help fund the surge in investment by corporations, one of the stated goals of the legislation. However, a large inflow of foreign capital would drive up the price of the dollar, making U.S. exports more expensive, thus increasing the trade deficit. Paul Krugman estimated this could adversely impact up to 2.5million U.S. jobs.


title: Tax Cuts and Jobs Act of 2017

text: According to "The New York Times", "wide range of experts agree that cutting taxes is likely to increase the trade deficit" with other countries, which conflicts with the stated priority of the White House to reduce the trade deficit. However, Economists widely reject that reducing the trade deficit necessarily has to be good for the economy. So the fact that this bill may increase the trade deficit will not necessarily decrease American welfare.


title: Tax Cuts and Jobs Act of 2017

text: The finance ministers of the five largest European economies (France, Germany, Italy, Spain and the United Kingdom) wrote a letter to U.S. Treasury Secretary Steve Mnuchin, expressing concern that the tax reforms could trigger a trade war, as they would violate World Trade Organization rules and distort international trade. Similar concerns were voiced by China. In response to the Act, German economists called for the German government to enact tax reform and additional subsidies to prevent a loss of jobs and investments to the United States.


title: Tax Cuts and Jobs Act of 2017

text: Fact-checkers such as FactCheck.Org, PolitiFact and "The Washington Post"s fact-checker have found that Trump's claims that his economic proposal and tax plan would not benefit wealthy persons like himself were likely false. An analysis by "The New York Times" found that if Trump's tax plan had been in place in 2005 (the one recent year in which his tax returns were leaked), he would have saved $11million in taxes. The analysis also found that Trump would save $4.4million on his eventual estate tax bill. Experts say that the financial windfall for the President and his family from this bill is "virtually unprecedented in American political history".


title: Tax Cuts and Jobs Act of 2017

text: A number of Republican congressmen also stood to benefit personally from the pass-through deduction. Most notably, retiring Tennessee Senator Bob Corker was for some time the sole Republican Senator to oppose the tax plan. Corker stated that he would not support a tax plan that would increase the deficit. However, after Arizona Senator John McCain, who was unable to vote while receiving treatment for brain cancer, endorsed the bill, Corker changed his vote to "yes" on the final version of the bill after it was confirmed that the pass-through deduction provision from which he stood to benefit was included in it. Corker rejected the claim that he traded his vote for provisions that benefited him and said that he had no idea that there were provisions in the bill from which he stood to personally benefit.


title: Tax Cuts and Jobs Act of 2017

text: According to "The New York Times", "economists and tax experts across the political spectrum warn that the proposed system would invite tax avoidance. The more the tax code distinguishes among types of earnings, personal characteristics or economic activities, the greater the incentive to label income artificially, restructure or switch categories in a hunt for lower rates." According to "The Wall Street Journal", the bill's changes to "business and individual taxation could lead to a new era of business reorganization and tax-code gamesmanship with unknown consequences for the economy and federal revenue collection."


title: Tax Cuts and Jobs Act of 2017

text: Republicans justified the tax reform initially as an effort to simplify the tax code. Kevin Brady, the chairman of the House Ways and Means Committee, and Speaker Paul Ryan said in November 2017 that they would simplify the tax code so much that 9 in 10 Americans would be able to file their taxes on a postcard. President Donald Trump said on December 13, 2017, that people would be able to file their taxes "on a single, little, beautiful sheet of paper". However, when the final version of the tax legislation passed through houses of Congress, the legislation kept most loopholes intact and did not simplify the tax code. The announcements by the House leaders hurt the stock prices of tax preparers, but upon the release of the actual bill, the stock prices of tax preparers sharply increased.


title: Tax Cuts and Jobs Act of 2017

text: The legislation was passed by Congress with little debate regarding the comprehensive reforming nature of the Act. The 400-page House bill was passed two weeks after the legislation was first released, "without a single hearing" held. In the Senate, the final version of the bill did not receive a public hearing, "was largely crafted behind closed doors, and was released just ahead of the final vote." Republicans rewrote major portions of tax bill just hours before the floor vote, making major changes in order to win the votes of several Republican holdouts. Many last-minute changes were handwritten on earlier drafts of the bill. The revisions appeared "first in the lobbying shops of K Street, which sent back copies to some Senate Democrats, who were left to take to social media in protest regarding being asked to vote in a matter of hours on a massive bill that had yet to be shared with them directly."


title: Tax Cuts and Jobs Act of 2017

text: The rushed approval of the legislation prompted an outcry from Democrats. Senate Minority Leader Charles Schumer (D–NY) proposed giving senators more time to read the legislation, but this motion failed after every Republican voted no. Requests to wait until incoming Democratic Senator Doug Jones of Alabama could vote on the bill were also denied. Some commentators also criticized the process. "The New York Times" editorial board wrote that the Senate's move to rapidly approve the bill "is not how lawmakers are supposed to pass enormous pieces of legislation" and contrasted the bill to the 1986 tax bill, in which "Congress and the Reagan administration worked across party lines, produced numerous drafts, held many hearings and struck countless compromises." Bloomberg columnist Al Hunt classified the legislation as a "slipshod product, legislated with minimal transparency" that was "rushed so fast through a short-circuited lawmaking process" in which many members of Congress who voted in favor of the bill did not fully understand what they had done.


title: Tax Cuts and Jobs Act of 2017

text: The clause establishing the bill's short title was dropped after Senator Bernie Sanders (D-VT) filed an objection under the Byrd Rule to the Senate Parliamentarian, claiming the section was extraneous. As a result, the name "Tax Cuts and Jobs Act", though widely used, is not contained in the bill, which is officially referred to by its long title, or as Public Law 115-97.


title: Tax Cuts and Jobs Act of 2017

text: Federal Reserve officials had indicated earlier in 2017 that aggressive tax cuts could increase the pace of interest rate increases already planned. Higher interest rates make borrowing more expensive, slowing economic growth (GDP), other things equal. The Fed also raises interest rates to help offset the risk of inflation in a growing economy near full employment. However, as the tax plan became clearer and its impact on the economy was judged to be relatively minor, the Fed indicated that a plan to raise interest rates incrementally as many as three times in 2018 would not be changed.


title: Tax Cuts and Jobs Act of 2017

text: While there is no clear consensus among academic economists as to whether the tax plan would benefit the economy to the degree that Trump administration predicted, there is a consensus that it will widen public deficits and economic inequality.


title: Tax Cuts and Jobs Act of 2017

text: In a survey conducted by the University of Chicago's Initiative on Global Markets, 37 out of 38 economists interviewed stated that they thought the Act would cause a rapid increase in the national debt. The one dissenting economist later changed his mind. Conversely, only one economist (Stanford's Darrell Duffie) out of the 38 agreed with the statement: "If the US enacts a tax bill similar to those currently moving through the House and Senate—and assuming no other changes in tax or spending policy—US GDP will be substantially higher a decade from now than under the status quo".


title: Tax Cuts and Jobs Act of 2017

text: Four winners of the Nobel Prize in Economics have spoken out against the legislation: Joseph Stiglitz, Paul Krugman, Richard Thaler, and Angus Deaton.


title: Tax Cuts and Jobs Act of 2017

text: Princeton economist Alan Blinder, who served as Vice Chair of the Federal Reserve System from 1994 to 1996, argued, in an article published by "The Wall Street Journal", that "almost everything was wrong" with the Trump Tax Cut and that "it blew a large hole in the federal deficit".


title: Tax Cuts and Jobs Act of 2017

text: A group of 137 economists signed an open letter expressing support for the bill; the letter was touted by President Trump, House Speaker Paul Ryan and the Senate Finance Committee as support for the legislation among economists; the letter was criticized by left-liberal publications that cited independent research which contradicted some of its claims and alleged that it contained signatories who did not exist. A group of nine economists (largely from the Reagan and Bush administrations) wrote a letter which estimated 3 percent growth from the reduction in the corporate tax rate within a decade; the letter was challenged by Harvard economists Larry Summers and Jason Furman (both of whom served in the Obama administration), and the nine economists appeared to back off from their original claims.


title: Tax Cuts and Jobs Act of 2017

text: According to "The Guardian", thirteen tax law professors from around the US, in a 68-page study, called the law's process "rushed and secretive" that resulted "in deeply flawed legislation".


title: Tax Cuts and Jobs Act of 2017

text: In November 2017, Senator Lindsey Graham (R–SC) said that "financial contributions will stop" flowing to the Republican Party if tax reform is unable to be enacted. This echoed comments by Representative Chris Collins (R–NY), who said, "My donors are basically saying 'get it done or don't ever call me again.'"


title: Tax Cuts and Jobs Act of 2017

text: Some provisions were initially proposed for inclusion in the bill, but were excluded before final passage.


title: Tax Cuts and Jobs Act of 2017

text: The bill that passed the House had been criticized for its significant negative impact on graduate students. Graduate students in private universities could have seen their effective tax rate go above 41.9%, a rate higher than what even the richest of Americans typically pay. The change was due to a provision in the bill that would have repealed the deduction for qualified tuition and related expenses, meaning that graduate students' waived tuition would be viewed as taxable income. Given that their stipends are significantly less than the waived tuition, this would typically increase their taxes by 30–60% for public universities and hundreds of percent for private ones. The Senate version of the bill did not contain these provisions.


title: Tax Cuts and Jobs Act of 2017

text: The House bill's disadvantageous treatment of graduate students was criticized because of its projected negative effect on the training of U.S. scientists. The bill's impact on U.S. science and innovation had been criticized by Stanford professor emeritus Burton Richter, a winner of the Nobel Prize in Physics and the National Medal of Science, who critiqued the bill's negative impact on Americans seeking advanced degrees and wrote that the budget impact of the tax cuts would force a dramatic reduction in federal funding for scientific research.


title: Tax Cuts and Jobs Act of 2017

text: The final version of the Act reflected the Senate's language in this area, maintaining the prior law's tax exemption for tuition waivers.


title: Tax Cuts and Jobs Act of 2017

text: Under the Statutory Pay-as-You-Go Act of 2010 (PAYGO), laws that increase the federal deficit will trigger automatic spending cuts unless Congress votes to waive them. Because the Act adds $1.5trillion to the deficit, automatic cuts of $150billion per year over ten years would have applied, including a $25billion annual cut to Medicare. Because the PAYGO waiver is not allowed in a reconciliation bill, it requires separate legislation which requires 60 votes in the Senate to end a filibuster. If Congress had not passed the waiver, it would have been the first time that statutory PAYGO sequestration would have occurred. However, the PAYGO waiver was included in the continuing resolution passed by Congress on December 22 and signed by President Trump.


title: Tax Cuts and Jobs Act of 2017

text: Analysis by FiveThirtyEight in November 2017 found the pending tax law to be the least-popular major tax bill in at least 36 years, including the tax increases of 1990 and 1993. Apart from February 12, 2018, the RealClearPolitics composite of polls has indicated that at least a plurality of Americans has disliked the law from October 2017 through December 2018.


title: Tax Cuts and Jobs Act of 2017

text: House Republicans have written follow-on bills that would extend the individual tax cuts beyond their current expiration date, simplify the rules for Individual Retirement Accounts, and add new tax deductions for small businesses.


title: Tax Cuts and Jobs Act of 2017

text: The follow-on bills were written as three separate bills, named the Protecting Family and Small Business Tax Cuts Act of 2018 (H.R. 6760), the Family Savings Act (H.R. 6757), and the American Innovation Act of 2018 (H.R. 6756).


title: Tax Cuts and Jobs Act of 2017

text: On September 27, the House of Representatives passed the Family Savings Act by a vote of a 240–177, and then it passed the American Innovation Act by a vote of 260–156.


title: Tax Cuts and Jobs Act of 2017

text: On September 28, the House of Representatives passed the Protecting Family and Small Business Tax Cuts Act by a vote of 220–191. Several Republicans in the House voted against the bill to make permanent the $10,000 annual limit on federal tax deductions for state and local taxes because they represent states where residents tend to pay higher state and local taxes.


title: Tax Cuts and Jobs Act of 2017

text: The Build Back Better Act, in the version passed by the House in November 2021 (to be reconciled with the Senate), repeals or partially reverses various provisions of the 2017 act, according to the summary given by House speaker Nancy Pelosi in her speech on the morning of passage.


title: Tax Cuts and Jobs Act of 2017

text: The elimination of the individual mandate, the tax penalty for not having health insurance, through this Act led to several states led by Texas to challenge the constitutionality of the entire ACA based on the Supreme Court's prior decision in "National Federation of Independent Business v. Sebelius" (2012) which justified the individual mandate as an allowable tax. In December 2018, Judge Reed O'Connor of the District Court of Northern Texas issued his opinion in agreement with the states that without the individual mandate, the whole of the ACA had no standing. California and several other states led the appeal of the case to the Fifth Circuit Court. The Fifth Circuit affirmed in part with O'Connor's opinion on the unconstitutionality of the ACA without the individual mandate in December 2019. The case was raised to the Supreme Court to be heard as "California v. Texas" during the court's 2020–21 term; in a 7–2 decision issued on June 17, 2021, the Court ruled that Texas and other states that initially challenged the individual mandate did not have standing, as they had not shown past or future injury related to the provision. The Supreme Court otherwise did not rule on the constitutionality of the individual mandate in this case.


title: 2022 UCI World Tour

text: The 2022 UCI World Tour was a series of races that included thirty-one road cycling events throughout the 2022 cycling season. The tour started with the UAE Tour on 20 February, and concluded with the Il Lombardia on 8 October.


title: 2022 UCI World Tour

text: Due to COVID-19-related logistical concerns raised by teams regarding travel to Australia (including strict quarantine requirements), the Tour Down Under (18–23 January) and the Cadel Evans Great Ocean Road Race (30 January) were cancelled. On 8 June 2022, the Benelux Tour (29 August – 4 September) was cancelled due to a pressurised calendar. On 17 June 2022, the Tour of Guangxi (13–18 October) was also cancelled due to travel restrictions caused by the COVID-19 pandemic.


title: Peripheral

text: A peripheral or peripheral device is an auxiliary device used to put information into and get information out of a computer. The term "peripheral device" refers to all hardware components that are attached to a computer and are controlled by the computer system, but they are not the core components of the computer, such as the CPU or power supply unit. In other words, peripherals can also be defined as devices that can be easily removed and plugged into a computer system.


title: Peripheral

text: Several categories of peripheral devices may be identified, based on their relationship with the computer:


title: Peripheral

text: Many modern electronic devices, such as Internet-enabled digital watches, keyboards, and tablet computers, have interfaces for use as computer peripheral


title: Gastropoda

text: The gastropods (), commonly known as snails and slugs, belong to a large taxonomic class of invertebrates within the phylum Mollusca called Gastropoda ().


title: Gastropoda

text: This class comprises snails and slugs from saltwater, from freshwater, and from land. There are many thousands of species of sea snails and slugs, as well as freshwater snails, freshwater limpets, and land snails and slugs.


title: Gastropoda

text: The class Gastropoda contains a vast total of named species, second only to the insects in overall number. The fossil history of this class goes back to the Late Cambrian. , 721 families of gastropods are known, of which 245 are extinct and appear only in the fossil record, while 476 are currently extant with or without a fossil record.


title: Gastropoda

text: Gastropoda (previously known as univalves and sometimes spelled "Gasteropoda") are a major part of the phylum Mollusca, and are the most highly diversified class in the phylum, with 65,000 to 80,000 living snail and slug species. The anatomy, behavior, feeding, and reproductive adaptations of gastropods vary significantly from one clade or group to another, so stating many generalities for all gastropods is difficult.


title: Gastropoda

text: The class Gastropoda has an extraordinary diversification of habitats. Representatives live in gardens, woodland, deserts, and on mountains; in small ditches, great rivers, and lakes; in estuaries, mudflats, the rocky intertidal, the sandy subtidal, the abyssal depths of the oceans, including the hydrothermal vents, and numerous other ecological niches, including parasitic ones.


title: Gastropoda

text: Although the name "snail" can be, and often is, applied to all the members of this class, commonly this word means only those species with an external shell big enough that the soft parts can withdraw completely into it. Those gastropods without a shell, and those with only a very reduced or internal shell, are usually known as slugs; those with a shell into which they can partly but not completely withdraw are termed semislugs.


title: Gastropoda

text: The marine shelled species of gastropods include species such as abalone, conches, periwinkles, whelks, and numerous other sea snails that produce seashells that are coiled in the adult stage—though in some, the coiling may not be very visible, for example in cowries. In a number of families of species, such as all the various limpets, the shell is coiled only in the larval stage, and is a simple conical structure after that.


title: Gastropoda

text: In the scientific literature, gastropods were described as "gasteropodes" by in 1795. The word "gastropod" comes from Greek ( 'stomach') and ( 'foot'), a reference to the fact that the animal's "foot" is positioned below its guts.


title: Gastropoda

text: The earlier name "univalve" means one valve (or shell), in contrast to bivalves, such as clams, which have two valves or shells.


title: Gastropoda

text: Gastropods have the greatest numbers of named mollusc species. However, estimates of the total number of gastropod species vary widely, depending on cited sources. The number of gastropod species can be ascertained from estimates of the number of described species of Mollusca with accepted names: about 85,000 (minimum 50,000, maximum 120,000). But an estimate of the total number of Mollusca, including undescribed species, is about 240,000 species. The estimate of 85,000 molluscs includes 24,000 described species of terrestrial gastropods.


title: Gastropoda

text: Different estimates for aquatic gastropods (based on different sources) give about 30,000 species of marine gastropods, and about 5,000 species of freshwater and brackish gastropods. Many deep-sea species remain to be discovered, as only 0.0001% of the deep-sea floor has been studied biologically. The total number of living species of freshwater snails is about 4,000.


title: Gastropoda

text: Recently extinct species of gastropods (extinct since 1500) number 444, 18 species are now extinct in the wild (but still exist in captivity), and 69 species are "possibly extinct".


title: Gastropoda

text: In marine habitats, the continental slope and the continental rise are home to the highest diversity, while the continental shelf and abyssal depths have a low diversity of marine gastropods.


title: Gastropoda

text: Some of the more familiar and better-known gastropods are terrestrial gastropods (the land snails and slugs). Some live in fresh water, but most named species of gastropods live in a marine environment.


title: Gastropoda

text: Gastropods have a worldwide distribution, from the near Arctic and Antarctic zones to the tropics. They have become adapted to almost every kind of existence on earth, having colonized nearly every available medium.


title: Gastropoda

text: In habitats where not enough calcium carbonate is available to build a really solid shell, such as on some acidic soils on land, various species of slugs occur, and also some snails with thin, translucent shells, mostly or entirely composed of the protein conchiolin.


title: Gastropoda

text: Snails such as "Sphincterochila boissieri" and "Xerocrassa seetzeni" have adapted to desert conditions. Other snails have adapted to an existence in ditches, near deepwater hydrothermal vents, the pounding surf of rocky shores, caves, and many other diverse areas.


title: Gastropoda

text: Gastropods can be accidentally transferred from one habitat to another by other animals, e.g. by birds.


title: Gastropoda

text: Snails are distinguished by an anatomical process known as torsion, where the visceral mass of the animal rotates 180° to one side during development, such that the anus is situated more or less above the head. This process is unrelated to the coiling of the shell, which is a separate phenomenon. Torsion is present in all gastropods, but the opisthobranch gastropods are secondarily untorted to various degrees.


title: Gastropoda

text: Torsion occurs in two stages. The first, mechanistic stage, is muscular, and the second is mutagenetic. The effects of torsion are primarily physiological; the organism develops an asymmetrical growth, with the majority occurring on the left side. This leads to the loss of right-paired appendages (e.g., ctenidia (comb-like respiratory apparatus), gonads, nephridia, etc.). Furthermore, the anus becomes redirected to the same space as the head. This is speculated to have some evolutionary function, as prior to torsion, when retracting into the shell, first the posterior end would get pulled in, and then the anterior. Now, the front can be retracted more easily, perhaps suggesting a defensive purpose.


title: Gastropoda

text: However, this "rotation hypothesis" is being challenged by the "asymmetry hypothesis" in which the gastropod mantle cavity originated from one side only of a bilateral set of mantle cavities.


title: Gastropoda

text: Gastropods typically have a well-defined head with two or four sensory tentacles with eyes, and a ventral foot, which gives them their name (Greek "gaster", stomach, and "pous", foot). The foremost division of the foot is called the propodium. Its function is to push away sediment as the snail crawls. The larval shell of a gastropod is called a protoconch.


title: Gastropoda

text: The principal characteristic of the Gastropoda is the asymmetry of their principal organs. The essential feature of this asymmetry is that the anus generally lies to one side of the median plane.; The ctenidium (gill-combs), the osphradium (olfactory organs), the hypobranchial gland (or pallial mucous gland), and the auricle of the heart are single or at least are more developed on one side of the body than the other ; Furthermore, there is only one genital orifice, which lies on the same side of the body as the anus.


title: Gastropoda

text: Most shelled gastropods have a one piece shell (with exceptional bivalved gastropods), typically coiled or spiraled, at least in the larval stage. This coiled shell usually opens on the right-hand side (as viewed with the shell apex pointing upward). Numerous species have an operculum, which in many species acts as a trapdoor to close the shell. This is usually made of a horn-like material, but in some molluscs it is calcareous. In the land slugs, the shell is reduced or absent, and the body is streamlined.


title: Gastropoda

text: Some gastropods have adult shells which are bottom heavy due to the presence of a thick, often broad, convex ventral callus deposit on the inner lip and adapical to the aperture which may be important for gravitational stability.


title: Gastropoda

text: Some sea slugs are very brightly colored. This serves either as a warning, when they are poisonous or contain stinging cells, or to camouflage them on the brightly colored hydroids, sponges and seaweeds on which many of the species are found.


title: Gastropoda

text: Lateral outgrowths on the body of nudibranchs are called cerata. These contain an outpocketing of digestive gland called the diverticula.


title: Gastropoda

text: The sensory organs of gastropods include olfactory organs, eyes, statocysts and mechanoreceptors. Gastropods have no hearing.


title: Gastropoda

text: In terrestrial gastropods (land snails and slugs), the olfactory organs, located on the tips of the four tentacles, are the most important sensory organ. The chemosensory organs of opisthobranch marine gastropods are called rhinophores.


title: Gastropoda

text: The majority of gastropods have simple visual organs, eye spots either at the tip or base of the tentacles. However, "eyes" in gastropods range from simple ocelli that only distinguish light and dark, to more complex pit eyes, and even to lens eyes. In land snails and slugs, vision is not the most important sense, because they are mainly nocturnal animals.


title: Gastropoda

text: The nervous system of gastropods includes the peripheral nervous system and the central nervous system. The central nervous system consist of ganglia connected by nerve cells. It includes paired ganglia: the cerebral ganglia, pedal ganglia, osphradial ganglia, pleural ganglia, parietal ganglia and the visceral ganglia. There are sometimes also buccal ganglia.


title: Gastropoda

text: The radula of a gastropod is usually adapted to the food that a species eats. The simplest gastropods are the limpets and abalones, herbivores that use their hard radula to rasp at seaweeds on rocks.


title: Gastropoda

text: Many marine gastropods are burrowers, and have a siphon that extends out from the mantle edge. Sometimes the shell has a siphonal canal to accommodate this structure. A siphon enables the animal to draw water into their mantle cavity and over the gill. They use the siphon primarily to "taste" the water to detect prey from a distance. Gastropods with siphons tend to be either predators or scavengers.


title: Gastropoda

text: Almost all marine gastropods breathe with a gill, but many freshwater species, and the majority of terrestrial species, have a pallial lung. The respiratory protein in almost all gastropods is hemocyanin, but one freshwater pulmonate family, the Planorbidae, have hemoglobin as the respiratory protein.


title: Gastropoda

text: In one large group of sea slugs, the gills are arranged as a rosette of feathery plumes on their backs, which gives rise to their other name, nudibranchs. Some nudibranchs have smooth or warty backs with no visible gill mechanism, such that respiration may likely take place directly through the skin.


title: Gastropoda

text: Gastropods have open circulatory system and the transport fluid is hemolymph. Hemocyanin is present in the hemolymph as the respiratory pigment.


title: Gastropoda

text: The primary organs of excretion in gastropods are nephridia, which produce either ammonia or uric acid as a waste product. The nephridium also plays an important role in maintaining water balance in freshwater and terrestrial species. Additional organs of excretion, at least in some species, include pericardial glands in the body cavity, and digestive glands opening into the stomach.


title: Gastropoda

text: Courtship is a part of mating behavior in some gastropods, including some of the Helicidae. Again, in some land snails, an unusual feature of the reproductive system of gastropods is the presence and utilization of love darts.


title: Gastropoda

text: In many marine gastropods other than the opisthobranchs, there are separate sexes (dioecious/gonochoric); most land gastropods, however, are hermaphrodites.


title: Gastropoda

text: Courtship is a part of the behavior of mating gastropods with some pulmonate families of land snails creating and utilizing love darts, the throwing of which have been identified as a form of sexual selection.


title: Gastropoda

text: The diet of gastropods differs according to the group considered. Marine gastropods include some that are herbivores, detritus feeders, predatory carnivores, scavengers, parasites, and also a few ciliary feeders, in which the radula is reduced or absent. Land-dwelling species can chew up leaves, bark, fruit and decomposing animals while marine species can scrape algae off the rocks on the seafloor. Certain species such as the Archaeogastropda maintain horizontal rows of slender marginal teeth. In some species that have evolved into endoparasites, such as the eulimid "Thyonicola doglieli", many of the standard gastropod features are strongly reduced or absent.


title: Gastropoda

text: A few sea slugs are herbivores and some are carnivores. The carnivorous habit is due to specialisation. Many gastropods have distinct dietary preferences and regularly occur in close association with their food species.


title: Gastropoda

text: Some predatory carnivorous gastropods include, for example: Cone shells, "Testacella", "Daudebardia", Turrids, Ghost slug and others.


title: Gastropoda

text: Gastropods exhibit an important degree of variation in mitochondrial gene organization when compared to other animals. Main events of gene rearrangement occurred at the origin of Patellogastropoda and Heterobranchia, whereas fewer changes occurred between the ancestors of Vetigastropoda (only tRNAs D, C and N) and Caenogastropoda (a large single inversion, and translocations of the tRNAs D and N). Within Heterobranchia, gene order seems relatively conserved, and gene rearrangements are mostly related with transposition of tRNA genes.


title: Gastropoda

text: The first gastropods were exclusively marine, with the earliest representatives of the group appearing in the Late Cambrian ("Chippewaella", "Strepsodiscus"), though their only gastropod character is a coiled shell, so they could lie in the stem lineage, if they are gastropods at all. Earliest Cambrian organisms like "Helcionella", "Barskovia" and "Scenella" are no longer considered gastropods, and the tiny coiled "Aldanella" of earliest Cambrian time is probably not even a mollusk.


title: Gastropoda

text: As such, it's not until the Ordovician that the first crown-group members arise. By the Ordovician period the gastropods were a varied group present in a range of aquatic habitats. Commonly, fossil gastropods from the rocks of the early Palaeozoic era are too poorly preserved for accurate identification. Still, the Silurian genus "Poleumita" contains fifteen identified species. Fossil gastropods were less common during the Palaeozoic era than bivalves.


title: Gastropoda

text: Most of the gastropods of the Palaeozoic era belong to primitive groups, a few of which still survive. By the Carboniferous period many of the shapes seen in living gastropods can be matched in the fossil record, but despite these similarities in appearance the majority of these older forms are not directly related to living forms. It was during the Mesozoic era that the ancestors of many of the living gastropods evolved.


title: Gastropoda

text: One of the earliest known terrestrial (land-dwelling) gastropods is "Anthracopupa" (="Maturipupa"), which is found in the Coal Measures of the Carboniferous period in Europe, but relatives of the modern land snails are rare before the Cretaceous period, when the familiar "Helix" first appeared.


title: Gastropoda

text: In rocks of the Mesozoic era, gastropods are slightly more common as fossils; their shells are often well preserved. Their fossils occur in ancient beds deposited in both freshwater and marine environments. The "Purbeck Marble" of the Jurassic period and the "Sussex Marble" of the early Cretaceous period, which both occur in southern England, are limestones containing the tightly packed remains of the pond snail "Viviparus".


title: Gastropoda

text: Rocks of the Cenozoic era yield very large numbers of gastropod fossils, many of these fossils being closely related to modern living forms. The diversity of the gastropods increased markedly at the beginning of this era, along with that of the bivalves.


title: Gastropoda

text: Certain trail-like markings preserved in ancient sedimentary rocks are thought to have been made by gastropods crawling over the soft mud and sand. Although these trace fossils are of debatable origin, some of them do resemble the trails made by living gastropods today.


title: Gastropoda

text: Gastropod fossils may sometimes be confused with ammonites or other shelled cephalopods. An example of this is "Bellerophon" from the limestones of the Carboniferous period in Europe, the shell of which is planispirally coiled and can be mistaken for the shell of a cephalopod.


title: Gastropoda

text: Gastropods are one of the groups that record the changes in fauna caused by the advance and retreat of the Ice Sheets during the Pleistocene epoch.


title: Gastropoda

text: Since Darwin, biological taxonomy has attempted to reflect the phylogeny of organisms, i.e., the tree of life. The classifications used in taxonomy attempt to represent the precise interrelatedness of the various taxa. However, the taxonomy of the Gastropoda is constantly being revised and so the versions shown in various texts can differ in major ways.


title: Gastropoda

text: The taxonomy of the Gastropoda is still under revision, and more and more of the old taxonomy is being abandoned, as the results of DNA studies slowly become clearer. Nevertheless, a few of the older terms such as "opisthobranch" and "prosobranch" are still sometimes used in a descriptive way.


title: Gastropoda

text: New insights based on DNA sequencing of gastropods have produced some revolutionary new taxonomic insights. In the case of the Gastropoda, the taxonomy is now gradually being rewritten to embody strictly monophyletic groups (only one lineage of gastropods in each group). Integrating new findings into a working taxonomy remain challenging. Consistent ranks within the taxonomy at the level of subclass, superorder, order, and suborder have already been abandoned as unworkable. Ongoing revisions of the higher taxonomic levels are expected in the near future.


title: Gastropoda

text: Convergent evolution, which appears to exist at especially high frequency in gastropods, may account for the observed differences between the older phylogenies, which were based on morphological data, and more recent gene-sequencing studies.


title: Gastropoda

text: Bouchet & Rocroi (2005) made sweeping changes in the systematics, resulting in a taxonomy that is a step closer to the evolutionary history of the phylum. The Bouchet & Rocroi classification system is based partly on the older systems of classification, and partly on new cladistic research.


title: Gastropoda

text: In the past, the taxonomy of gastropods was largely based on phenetic morphological characters of the taxa. The recent advances are more based on molecular characters from DNA and RNA research. This has made the taxonomical ranks and their hierarchy controversial. The debate about these issues is not likely to end soon.


title: Gastropoda

text: In the Bouchet, Rocroi "et al." taxonomy, the authors have used unranked clades for taxa above the rank of superfamily (replacing the ranks suborder, order, superorder and subclass), while using the traditional Linnaean approach for all taxa below the rank of superfamily. Whenever monophyly has not been tested, or is known to be paraphyletic or polyphyletic, the term "group" or "informal group" has been used. The classification of families into subfamilies is often not well resolved, and should be regarded as the best possible hypothesis.


title: Gastropoda

text: In 2004, Brian Simison and David R. Lindberg showed possible diphyletic origins of the Gastropoda based on mitochondrial gene order and amino acid sequence analyses of complete genes.


title: Gastropoda

text: In the 2017 issue of the "Malacologia" journal (available online from 4 January 2018), a significantly updated version of the 2005 "Bouchet & Rocroi" taxonomy was published in the paper "Revised Classification, Nomenclator and Typification of Gastropod and Monoplacophoran Families".


title: Polity

text: A polity is an identifiable political entity – a group of people with a collective identity, who are organized by some form of institutionalized social relations, and have a capacity to mobilize resources. A polity can be any other group of people organized for governance (such as a corporate board), the government of a country, or of a country subdivision. A polity may be a republic administered by an elected representative, or the realm of a hereditary monarch.


title: Polity

text: In geopolitics, a polity can be manifested in different forms such as a state, an empire, an international organization, a political organization and other identifiable, resource-manipulating organizational structures. A polity like a state does not need to be a sovereign unit. The most preeminent polities today are Westphalian states and nation-states, commonly referred to as countries and also incorrectly referred to by the term nations.


title: Polity

text: A polity encapsulates a vast multitude of organizations, many of which form the fundamental apparatus of contemporary states such as their subordinate civil and local government authorities. Polities do not need to be in control of any geographic areas, as not all political entities and governments have controlled the resources of one fixed geographic area. The historical Steppe Empires originating from the Eurasian Steppe are the most prominent example of non-sedentary polities. These polities differ from states because of their lack of a fixed, defined territory. Empires also differ from states in that their territories are not statically defined or permanently fixed and consequently that their body politic was also dynamic and fluid. It is useful then to think of a polity as a political community.


title: Polity

text: A polity can also be defined either as a faction within a larger (usually state) entity or at different times as the entity itself. For example, Kurds in Iraqi Kurdistan are parts of their own separate and distinct polity. However, they are also members of the sovereign state of Iraq which is itself a polity, albeit one which is much less specific and as a result much less cohesive. Therefore, it is possible for an individual to belong to more than one polity at a time.


title: Polity

text: Thomas Hobbes was a highly significant figure in the conceptualisation of polities, in particular of states. Hobbes considered notions of the state and the body politic in "Leviathan", his most notable work.