What an exciting month so far for tax reform! We have an amended bill passed by the House Ways and Means Committee (by vote of 24-16). The bill, H.R. 1, Tax Cuts and Jobs Act, was introduced just one week earlier. On November 9th, the Senate Finance Committee also released a 253-page summary by the Joint Committee on Taxation (most of the pages describe current law).

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Annette Nellen, Tax Advisor

On September 27, 2017, the Big 6 released their Tax Reform framework to guide the drafting of Tax Reform Legislation. Here is my summary and observations.

The plan also states President Trump’s Four Principles of Tax Reform:

  1. Simple, fair, easy to understand
  2. Give American works a pay raise.
  3. Make America a jobs market of the world
  4. Bring back trillions of dollars of unrepatriated earnings

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