President Needs to Focus on Tax Reform after Bannon Departure
Posted on Aug 21, 2017 in News
Sara Fagen, the White House political director under George W. Bush, stated that President Trump needs to focus his administration on producing a tax reform package in the wake of Steve Bannon’s departure. According to Fagen, who sees the Bannon exit as a positive, the President needs an accomplishment on his record, particularly in light of his response to the racially charged events...
GOP Fears President’s Volatile Relationships Could Jeopardize Tax Reform
Posted on Aug 18, 2017 in News
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...
Republicans Confident on Selling Tax Reform
Posted on Aug 16, 2017 in News
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...
September to be a Crucial Month for the Trump Administration
Posted on Aug 14, 2017 in News
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...
GOP Considers Hybrid Approach to Tax Reform
Posted on Aug 14, 2017 in News
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...
GOP to Release Tax Reform Framework
Posted on Jul 27, 2017 in News
The top Republican tax negotiators are expected to unveil a broad set of agreed tax reform principles prior to the Congressional recess. The anticipated framework is the result of ongoing deliberations between the “big six”: Speaker of the House Paul Ryan, House Ways and Means Committee chairman Kevin Brady, Senate majority leader Mitch McConnell, Senate Finance Committee chairman...
Hatch States Trump Conceding 15 Percent Corporate Tax Rate
Posted on Jun 28, 2017 in News
Senator Orrin Hatch, Chairman of the Senate Finance Committee, stated that President Trump is likely retreating from his proposed goal of a 15 percent corporate tax rate. Sen. Hatch, along with other congressional leaders, has participated in several recent meetings with White House officials in an attempt to reach a consensus on a tax reform bill. He suggested a corporate tax rate...
PIMCO’s Chief Investor Skeptical Tax Reform Agenda will be met
Posted on Jun 9, 2017 in News
Pacific Investment Management Company, LLC ‘s global chief investment officer, Dan Ivascyn, doubts President Trump’s tax and regulatory reform will ultimately achieve his ambitious goals. Ivascyn predicts tax reform will feature cuts rather than broad-based policy changes, due in part to the White House’s and Congress’ focus on revenue. Additionally, his forecasted...
House Freedom Caucus Calls for Summer Session to Address Tax Reform
Posted on Jun 7, 2017 in News
House Freedom Caucus Calls for Summer Session to Address Tax Reform The conservative House Freedom Caucus is urging House leaders to forgo the summer hiatus and instead remain in session to progress tax reform. The group’s stance follows on the heels of news that President Trump would seek the support of Democrats to press his tax reform agenda. Freedom Caucus calls on Congress...
Congress to Address Tax Reform in September
Posted on Jun 6, 2017 in News
Tax reform will take center stage before Congress in September, according to White House Director of Legislative Affairs Marc Short. While the Trump Administration favors revenue neutrality, its primary goal for reform is tax cuts. President Trump is meeting with Congressional GOP leaders today to discuss his tax reform agenda. White House wants healthcare vote this summer, tax...
Tax Reform for Christmas
Posted on May 26, 2017 in News
Despite controversy surrounding the border adjustment tax proposal, House Speaker Paul Ryan hopes that Congress will present a tax reform bill to the president by the December 23rd recess. Treasury Secretary Steven Mnuchin shared the same goal earlier this week, stating that the objective is to accomplish tax reform by year’s end. Paul Ryan Wants to put Reform on Trump’s...
Border Adjustment Tax Faces Looming Demise
Posted on May 25, 2017 in News
House Speaker Paul Ryan, on Wednesday, acknowledged that tax reform legislation could exclude a border tax provision. The controversial tax has faced criticism from several fronts, including some of Ryan’s fellow House Republicans, as well as the Senate and the White House. Treasury Secretary Steven Mnuchin has confirmed that President Trump is not in favor of backing a border...
Trumponomics and Tax Reform
Posted on May 12, 2017 in News
President Donald Trump offered several insights into his tax reform agenda during a recent interview, including his support of increasing the national debt in order to stimulate the economy and imposing a repatriation tax at a 10% rate. President Trump also voiced his appreciation of a value-added tax, admitting, however, that the U.S. is unlikely to ever adopt such a system....