The Trump administration has revealed its official tax reform plan. While it’s clear that the plan would make drastic changes to the current U.S. tax system, the brevity of the plan leaves a host of ancillary issues and details either unclarified or unaddressed in the one-page document. This is particularly true for expats – the tax plan gives little insight into whether changes will be sought by the administration that specifically address U.S. expat concerns.
Members of President Trump’s cabinet (Secretary Mnuchin and National Economic Director Gary Cohn) released a 1-page list of items he wants in a tax reform plan. CNN has the 1-pager posted here.
A few observations (I’ll have more later):
On June 24, 2016, the House Republicans released their tax reform blueprint, the last part of their “Better Way” plan. The plan includes reasons for tax reform and the basics of the plan. There is no legislative language so the details are not all there. But, here are some highlights: