Eversheds Sutherland Tax Reform Law Blog
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GOP Fears President’s Volatile Relationships Could Jeopardize Tax Reform

President Trump’s declining relationship with his party and the business community could endanger passage of a tax reform bill.  House Ways and Means Committee Chairman Kevin Brady stated that tax reform, which he described as the “signature issue of this presidency,” can only succeed if the President “gets on board and stays on board.”  In the wake of distracting events and the dissolution of a pair of the President’s corporate advisory groups, conservative organizations are spending millions on media campaigns to create momentum for tax reform.  Congressional Republican leaders are hoping...
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Brady Expects Economic Growth to Offset Initial Deficit Increase

Speaking at the Reagan Ranch on Wednesday, August 16, 2017, Chairman of the Ways and Means Committee Kevin Brady announced that the GOP tax reform plan could significantly add to the deficit during the first few years of implementation, but that resultant economic growth would eventually offset any adverse effects.  While light on specific details, Chairman Brady mentioned that House Republicans were working with their Democratic counterparts to find common ground for tax reform.  A full video of the speech may be found here. GOP Chairman:  Tax reform could increase...
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Republicans Confident on Selling Tax Reform

The GOP believes it will have an easier time selling the American populace on tax reform than it did on Healthcare reform.  In order to elicit support, Republican lawmakers intend to emphasize the effects of tax reform policies on their constituents, including tax cuts, more jobs, more take-home pay, and a simpler tax code.  According to political strategists, stripping tax preferences for special interests from the tax code and explaining how tax reform will improve the job market for everyone will help counter Democrats’ arguments related to wealth inequality and favoritism. GOP thinks it...
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September to be a Crucial Month for the Trump Administration

In September, the White House and Congress will have to address the debt ceiling, the federal budget, tax reform, and possibly another effort to repeal Obamacare.  White House aides have been negotiating these issues in New York while formulating plans to curb the President’s lofty expectations over the complicated, and likely bitterly contested, matters.  Tax reform is a primary focus, with several members of the Trump administration intent upon quickly resolving budget matters and moving to the topic.  President Trump, who has publicly expressed his frustration with Senate Majority Leader...
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GOP Considers Hybrid Approach to Tax Reform

Congressional tax committee members and the White House are discussing tax reform that combines permanent revisions to the tax code with temporary rate cuts for individuals and businesses.  The proposal is a potential solution for Republicans if the party opts to utilize the reconciliation process, which limits the life of tax cuts adding 10 years to the federal deficit. (The effect of lowering the corporate tax rate to 15%, elimination of several tax brackets and doubling the standard deduction, as set forth in the White House’s tax plan released in April, would result in the estimated loss...
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Republican Tax Reform Framework, but No Legislation, Reportedly Coming in September

Sources indicate that the Trump administration expects the “Big Six” will release a short three- to five-page document in September outlining a plan for reforming the US tax code. The document will likely not be accompanied by legislation, previously targeted for September, but instead could serve to outline areas of agreement between the White House, Senate, and Congress. Neither the House Ways and Means Committee nor the Senate Finance Committee—the congressional committees charged with drafting tax reform legislation—have set a deadline for passing tax legislation. However, a White House...
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