Lawmakers hope to reach “critical mass” in support for a tax overhaul by August, but still have a number of political and procedural hurdles to overcome before then, a top Senate Finance Committee staffer said Tuesday.
Paul Ryan’s tenure as House speaker will be judged in part on whether he can deliver a Republican tax plan. But rather than spearhead the effort to reach consensus, Ryan is still clinging to his own widely rejected proposal.
Corporate inversions bring up a range of emotion among those in the public policy world as they consider the state of our tax code.
Getting tax cuts through Congress this fall to boost the economy is a bigger priority than overall tax reform, a top White House official said Monday.
The White House is hoping to kick-start its stalled legislative agenda with congressional action on healthcare reform this summer that will clear the way for lawmakers to begin work on a major tax bill after the Sept. 4 Labor Day holiday, an administration official said on Monday.
The White House is starting the next phase of its tax reform push with the expected launch of a formal set of listening sessions with industry groups.
Treasury Secretary Steven Mnuchin asserted Thursday that the Trump administration is unified in seeking a tax reform that is more than just mere tax cuts, and that the legislation should be paid for.
Whether it’s a substantial tax cut, or one that underperforms expectations, S&P Global President and CEO Doug Peterson said on Tuesday that “any tax cut is going to be seen as favorable.” Though, he added a cut that incorporated “some sort of a territoriality system and simplification would be far superior.”
Tax Day may now be in our rearview mirror with taxpayers putting away their calculators, pens and aspirin until next April rolls around.
Two consecutive days of Capitol Hill testimony from Treasury Secretary Steven Mnuchin made it clear that White House policy still differs in key places from the House GOP tax overhaul plan.