On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act of 2017(www.congress.gov/bill/115th-congress/house-bill/1). Overall it will cost the federal government approximately $1.5 trillion over the next decade and deliver windfall gains to wealthy households and profitable corporations, further widening the gap between those at the top of the income ladderand the rest of the nation. By shrinking revenues, it will leave the nation less prepared to deal with themany challenges ahead. Many experts believe the new law is fundamentally flawed and will requirebasic restructuring.

This month’s guest speaker, Professor Jeffrey Froshman is a Distinguished Lecturer at the CSUMB College of Business, where he has taught since January 1996. Professor Froshman will help answer questions about the overall effects of the law (such as changing the income level of individual tax brackets, lowering tax rates, increasing the standard deductions and family tax credits, while itemized deductions are reduced and the personal exemptions are eliminated).