Contact UsOn many occasions since the Presidential election, the media has reported that the House Republicans have developed a major tax proposal that does, or could, or will conflict with the major tax proposal that President Trump talked about often in his campaign. Does anyone have any information on it?
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Thomas Kerester, JD
Yes, there is major tax proposal that has been developed by the Republicans in the House of Representatives. Be mindful that Speaker Ryan was the former Chairman of the powerful House Ways and Means Committee before being elected Speaker of the House. In that capacity, he often alluded to the need to make changes to our tax code.
For the information of our members, and per you request, I have reproduced a copy of a House Ways and Means Committee press release that outlines the proposal of the House Republicans in some detail in TaxConnections Tax Blogs. At this point in time, I don’t know how many Republican Members of Ways and Means and/or of the House will support that proposal until details of the President’s tax proposal is announced and studied.
However, I should point out that in a speech very recently, the Chairman of the House Ways and Means Committee endorsed the adoption of a border adjustment tax to level the playing field with foreign based company products coming into the United States. It could be a contentious issue in the debate.
In any event, I am confident that President Trump, Speaker Ryan, and Republican Members of the House will agree on a bill that will be most beneficial for taxpayers in lowering their tax burden, creating economy growth, creating jobs, reducing paperwork, and reducing the complexity of our tax code. And that they will do so in a timely matter.
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373 weeks ago
For the information of our members, and per you request, I have reproduced a copy of a House Ways and Means Committee press release that outlines the proposal of the House Republicans in some detail in TaxConnections Tax Blogs. At this point in time, I don’t know how many Republican Members of Ways and Means and/or of the House will support that proposal until details of the President’s tax proposal is announced and studied.
However, I should point out that in a speech very recently, the Chairman of the House Ways and Means Committee endorsed the adoption of a border adjustment tax to level the playing field with foreign based company products coming into the United States. It could be a contentious issue in the debate.
In any event, I am confident that President Trump, Speaker Ryan, and Republican Members of the House will agree on a bill that will be most beneficial for taxpayers in lowering their tax burden, creating economy growth, creating jobs, reducing paperwork, and reducing the complexity of our tax code. And that they will do so in a timely matter.