Beyond Tax Reform Jujitsu: Getting to ‘Yes’

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Congress and the administration can still achieve the first major overhaul of our nation’s tax laws in nearly 30 years; such reform could occur with or without an agreement to enact fundamental entitlement spending reform.

While challenges remain, none are intractable — most are matters of degree. Let us look at the fundamentals Congress and the administration can still achieve the first major overhaul of our nation’s tax laws in nearly 30 years; such reform could occur with or without an agreement to enact fundamental entitlement spending reform.

Consensus on the Need for Reform Exists; Differences Persist but Are Smaller Than Many Think -

Tax reform is inherently difficult to achieve as tax writers must grapple with the substance and politics of once-in-a-generation reform. For example: How much base broadening should there be? What should the tax distribution tables after reform look like? How to ensure U.S.-based multinationals can compete on a level playing field with their competitors, while at the same time ensuring the corporate tax base is not eroded?

Originally published in the Daily Tax Report, 114 DTR J-1, 06/13/2013.

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Topics:  American Taxpayer Relief Act, Bipartisan Agreement, Bush-Era Tax Cuts, Business Taxes, Federal Budget, Fiscal Cliff, Tax Reform

Published In: Elections & Politics Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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