06 Oct Major Tax Reform: What is Proposed
There is now a ton of media chatter about the recently introduced federal tax reform package being passed around in Washington, D.C. While it’s still early in the process, here are some of the key elements of the current proposal.
It is far from the finish line
Please recall that much needs to occur before any tax reform proposal makes its way into law. There is sure to be much discussion over a few points, including:
Given the Republicans’ slim margin of seats in both the House and the Senate, any defection within their ranks could derail this legislation. This was the fate of the health care reform bill earlier this year. Because of this, the best course of action is to wait and see. Whatever ends up happening in Washington, rest assured that you’ll be informed of what you need to know, and help will be available to review any of the changes as they impact your situation.