Eversheds Sutherland Tax Reform Law Blog
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Trump Announces Tax Cut Details Will Be Released Next Week

President Trump announced that his tax reform plan will be released next week. He promised a “massive tax cut” to businesses and individuals that could end up larger “than any tax cut ever.” He did not provide any insight into the contents of the plan. Read more at: Trump says he will release tax reform package next...

Tax Reform Timeline in Doubt; Unlikely by August Says Sec. Mnuchin

The Trump administration had previously stated that they wished to pass tax reform legislation by August of this year. However, Treasury Secretary Mnuchin has recently stated that the August deadline is too aggressive at this point and is not realistic. With legislative focus turning back to healthcare, it is unclear whether tax reform will be accomplished this year. Read more at: Tax...

Border Adjustment Tax May Affect Discount Retailers’ Profit Margins

Dollar Tree, and similar discount retailers, rely on imports from countries like China that manufacture inexpensive products and sell at low prices. If the House Republicans impose the border adjustment tax, and imports are taxed at 20 percent, such discount retailers may have to revise their business models in order to maintain their profit margins and continue to be profitable. Read...

The Fading Blueprint

U.S. House Speaker Paul Ryan’s tax reform blueprint is facing opposition within the Republican ranks. Both the Whitehouse and the Senate Republicans are preparing alternative plans, with the latter dusting off former House Ways and Means Committee Chairman Dave Camp’s proposed tax reform act as its foundation for new legislation. Read more at: U.S. Tax Reform Debate Moves Away From...

Wyden-ing his Reach: From Energy Chair to Finance Chair

Senator Ron Wyden (D-Ore.) is likely to become busier in 2014, as his ascension to Chair of the Senate Finance Committee is all but confirmed.  In recent days, speculation has shifted from if Sen. Wyden will be appointed to what will be accomplished when he is appointed. The role of Chair will become vacant upon Sen. Max Baucus’s (D-Mont.) confirmation as Ambassador to China (see our...

Moving On Up to the Means Side? Ryan Seeks Ways and Means Chairmanship

In the wake of brokering a bipartisan budget deal with Senator Patty Murry (D-Wash.), Representative Paul Ryan (R-Wis.), current chair of the Budget Committee, already has set his sights on a new position:  Chairman of Ways and Means.  Representative Dave Camp’s (R-Mich.) term as Chairman will expire after 2014 because of House Republicans’ caucus chairman term limits.  When Rep. Ryan...

Baucus Issues Tax Reform Discussion Draft on Tax Administration

Senate Finance Committee Chairman Max Baucus (D-Mont.) unveiled a tax reform discussion draft aimed at modernizing tax administration while minimizing compliance burden, reducing tax-related identity theft and reducing the tax gap.  This discussion draft represents a combination of proposals offered by both Republican and Democratic members of the Senate Finance Committee.  It...