A Guide to the Congressional Tax Plan
November 7, 2017
Congress’ release last week of a proposed tax plan advances the country’s discussion aimed at “reforming” both individual and corporate taxes.
Financial advisors, download this quick reference guide that summarizes the Congressional proposal, current law and the White House plan released April 26 (see post).
As you’ll read, “the Congressional proposal seems to address more revenue than prior proposals to gain approval as discussions move through Congress.”
The challenge is the Republicans’ lack of a supermajority, despite their control of both houses of Congress. “Without a supermajority,” this guide says, “the Republican Party may need to compromise over the final version of any income tax legislation by giving up on other legislation, such as the permanent estate tax repeal.”
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