United States

Broad contours of tax reform revealed?

Aug 01, 2017
From the Tax Governance Institute

Is the Blueprint on a collision course with political reality?

By John Gimigliano, Principal in Charge, Federal Legislative & Regulatory Services, Washington National Tax, KPMG LLP

Read more Tracking Tax Reform blog posts

Here's what's on our minds this week:

Sometimes what’s not said is as interesting as what is. That’s especially true of last week’s joint statement from the tax reform negotiators.

Reading between the lines of last week’s joint statement provides at least the broad contours of where tax reform appears to be headed. Most notably, the statement indicates that they have agreed to “set aside” the controversial revenue raiser, border adjustibility. But the hardest question remains unanswered—how to pay for tax reform.

The joint statement doesn’t tell us . . . and, at least for now, neither likely can the Big Six.

 

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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG LLP.

The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.