Jamie Dimon, the chairman and chief executive of JPMorgan Chase and chairman of the Business Roundtable, told the Economic Club of Chicago this week that if Congress had already passed a tax overhaul bill, “some companies would have made huge investments.”

“We know one thing for sure: Investments drive productivity, drives jobs and wages,” he added.

Mr. Trump has put a number on it, saying a typical American would see a $4,000 raise if the corporate rate was reduced to 20 percent from a high of 35 percent today, as both the House-passed bill and the pending Senate version propose. His Council of Economic Advisers says the increase could go as high as $9,000 for the average household.

President Trump’s top economist, Kevin Hassett, the chairman of the Council of Economic Advisers, said last week that he expected corporations to invest heavily and raise workers’ wages if the tax bill became law. When most developed nations have cut their corporate tax rate, he said, the resulting wage increases were “well north” of $4,000 per year for workers.

But Democrats and liberal economists dispute those claims, citing research that suggests that the bulk of the benefits from corporate cuts will flow to the rich, partly through companies’ buying back stock or increasing dividend payments to shareholders.

A prominent survey of top economists from across the ideological spectrum — the IGM Economic Experts Panel — found this week that almost no economists agreed with the notion that the size of the American economy “will be substantially higher a decade from now than under the status quo” if the tax bill passed.

Critics note that wage growth has remained relatively sluggish over the past several years, even as corporate profits hover near all-time highs as a share of the economy, and the unemployment rate continues to fall to levels that economists normally associate with rapid increases in worker pay.

“Perhaps the most intuitive reason we know these cuts will fail to spark wage growth is that corporate profit rates have been historically high since 2007, while business investment has been historically low,” Josh Bivens, an economist at the liberal Economic Policy Institute, wrote this week.