Eversheds Sutherland Tax Reform Law Blog
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House Ways and Means Committee Plans to Permit Interest Deductions for Small Businesses

Rep. Peter Roskam, the Chairman of the Subcommittee on Tax Policy for the House Ways and Means Committee, has commented that they are “actively working” to exempt small businesses from the provision contemplated by the House Republican Blueprint that would deny deductions for net interest expense.  The Chairman noted that they are sensitive to those who have no access to capital except...

Treasury Secretary Mnuchin Says Pass-through Rate Cut Not for the Wealthy

On May 18, Treasury Secretary Mnuchin attempted to assuage fears that the Trump tax plan will favor the wealthy. Trump’s tax reform outline proposes a 15% tax rate on business income, including income of individuals derived from pass-through entities, which is currently subject to a top marginal rate of 39.6%. While the outline includes few details, some commentators have expressed...

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