Tax Reform Plan

Tax Reform Plan May Not Occur Until Year 2018

President Trump said that a tax reform plan is nearly done but reiterated it will come after an Affordable Care Act (“ACA”) repeal measure.

 

Trump has promised to release a tax plan soon, and White House press secretary Sean Spicer said Tuesday that it is expected in the next couple weeks. Still, the Trump administration has not given much detail on how or if the proposal will change from the corporate and income tax-chopping plan Trump released on the campaign trail.

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Spicer repeated Wednesday that Republicans plan to address both health care reform and tax reform policies in separate budget reconciliation processes. Congress will pursue at least partial ACA repeal in fiscal 2017 reconciliation, followed by tax reform later through fiscal 2018 reconciliation, Spicer said.

Tax Reform Plan

It is always possible that the Year 2018 Budget Reconciliation could make all or select tax components retroactive but the safe bet is to count Year 2017 out until told otherwise.

 

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