Eversheds Sutherland Tax Reform Law Blog
content top

A Step toward Bipartisan Tax Reform

Blue Dog Democrats, political centrist members of the House of Representatives, recently met with members of the White House economic team, including Treasury Secretary Steven Mnuchin, economic advisor Gary Cohn, and Director of Legislative Affairs Marc Short.  The Blue Dogs agree with certain tax reform goals of  President Trump, namely that legislation must (i) spur economic growth; (ii) reduce tax rates for the middle-class; (iii) broaden the revenue base; and (iv) lower corporate rates.  The 18 member group anticipates releasing its own set of tax reform principles, which will include...
Continue Reading

Tax Reform is Mnuchin’s ‘No. 1 Focus’

Treasury Secretary Steven Mnuchin stated that the Trump Administration and Congress are wholly dedicated to passing tax reform this year.  He foresees tax reform encompassing lower tax rates accompanied by cuts to special interest preferences and the implementation of a territorial tax system.  Secretary Mnuchin observed that slow corporate tax receipts are a byproduct of the tax reform initiative as companies await the outcome of reform efforts. Read more here: Mnuchin confident that ‘massive tax reform’ will get done this...
Continue Reading

White House, Congress Agree on Timeline; Ryan Calls for Permanent Reform

Speaking at the National Association of Manufacturers summit, House Speaker Paul Ryan confirmed that the White House and House Republicans concentrating on crafting tax reform have agreed to a timeline for a bill to be submitted. White House Chief Economic Advisor, Gary Cohn, has stated that they aim to introduce a bill to Congress in September. The Speaker reiterated his belief in a territorial system, stating that the controversial Border Adjustment Tax is not “dead” but acknowledging it needs to be revised. He also called for permanent, comprehensive reform for both individuals and...
Continue Reading

Ryan to Speak on Tax Reform

House Speaker Paul Ryan will address attendees at the National Association of Manufacturers (“NAM”) summit regarding tax reform on Tuesday, June 20, in Washington DC. It is anticipated that Ryan’s speech will describe what tax reform will look like as well as its benefits. The NAM summit, focusing on tax reform, regulatory reform, infrastructure and workforce development, will also feature talks from Vice President Pence, House Majority Leader Kevin McCarthy and Labor Secretary Alex Acosta. Read more here: Ryan to give ‘major’ tax reform...
Continue Reading

Support Grows for Extending the Ten Year Tax Cut Budget Period

With tax reform progress floundering amid GOP rifts and political partisanship, Republican leaders are considering changing Senate budget rules to increase the period before required sunset for tax cuts that add to the federal deficit. Current rules limit the duration of tax cuts that add to the federal deficit to ten years if they are passed under the budget reconciliation process, which permits passage with fewer than sixty votes. Finance Committee Chairman Orrin Hatch, Treasury Secretary Steven Mnuchin, House Freedom Caucus Chairman Mark Meadows, and Sen. Pat Toomey number among the...
Continue Reading

Senator Hatch Requests Comments from the Public on Tax Reform

Senate Finance Committee Chairman Orrin Hatch has released a letter asking industry groups and other stakeholders for recommendations on tax reform. Comments must be submitted to taxreform2017@finance.senate.gov by July 17. Read more:  GOP chairman seeks tax reform recommendations
Continue Reading