Eversheds Sutherland Tax Reform Law Blog
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Mnuchin Discusses Tax Reform

Treasury Secretary Steven Mnuchin, during an interview on the Fox News Channel’s “Special Report,” indicated that tax reform would be revenue neutral under the Administration’s growth assumptions.  In discussing specifics of the yet-to-be released tax reform plan, he stated that the estate tax would be eliminated, that there would be a one-time deemed repatriation tax for transition to a territorial system but would not be tied to infrastructure, and that investment incentives for businesses would be included in the package.  Secretary Mnuchin expressed his commitment...
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Congressional Republicans Frustrated by Lack of Tax Reform Detail

With the vote for tax reform legislation looming, Congressional members of the GOP, including Freedom Caucus Chairman Mark Meadows, have expressed concern over the lack of clarity as to what the tax reform proposal is.  Speaking anonymously, a member of the House Ways and Means Committee suggested that the lack of detail was either to prevent media leaks or because there is simply not enough agreement among the policymakers to warrant the release of a detailed plan.  Negotiations over several important aspects of tax reform are ongoing, including the corporate tax rate, immediate expensing,...
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Tax Reform Outline to be Released Week of September 25

House Ways and Means Committee Chairman Kevin Brady announced that a tax reform framework that identifies the “consensus” core elements of tax reform will be released the week of September 25 when Congress returns from their break. Brady also confirmed that the objective is still to enact tax reform legislation this year and that the intention is to do so through budget reconciliation. Read more: Republican leaders say ‘consensus’ tax reform outline to be released week of Sept....
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Tax Reform Plan Not to Be Released Until After Senate Hearings

Senate Finance Committee Chairman Orrin Hatch, a member of the “Big Six” group of tax reform policymakers, stated that the Trump tax reform plan will not be released until after the Senate holds tax reform hearings, one of which is slated for this Thursday, September 14.  As a result, the unveiling of the tax reform blueprint will likely not occur until the end of September, at the earliest.  Lobbyists report that the Big Six are still undecided on basic elements of the tax reform plan, including whether or not it will add to the federal deficit, which has diminished hopes of passing tax...
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Business Tax Reform Hearing Announced by Senate Finance Committee

Senator Hatch, the Chairman of the Senate Finance Committee, announced a hearing on business tax reform to take place on Tuesday, September 19, 2017. Four executives from industry groups and think tanks will testify on policy options for reforming the taxation of U.S. businesses. The witnesses include: Scott A. Hodge, President, Tax Foundation; Donald B. Marron, Institute Fellow, Urban Institute & Urban-Brookings Tax Policy Center; Troy K. Lewis, CPA, CGMA, Tax Executive Committee Immediate Past Chair, American Institute of CPAs; and Jeffrey D. DeBoer, President and Chief Executive...
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Ryan Anticipates Release of Tax Reform Plan by Autumn

House Speaker Paul Ryan stated that Congressional tax writers are close to unveiling their template for tax reform and that he anticipates its release this fall, followed by the passage of legislation before the end of the year.  Speaker Ryan also confirmed that the goal is to lower the corporate tax rate to the industrialized average of 22.5%, noting that President Trump’s goal of a 15% corporate rate is unrealistic. House Speaker Ryan expects tax plan this fall: NYT interview...
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