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Deloitte Responds to House of Representatives’ Tax Reform Bill
WASHINGTON, November 2, 2017 — Deloitte’s Tax Policy leader Jon Traub, principal, Deloitte Tax LLP, offered the following statement in response to the House Republican’s introduction of their tax bill:
“Today’s introduction of the House Republicans’ tax bill, which is scheduled for markup next week, shows a strong desire by Congress and the president to enact a long-overdue overhaul of the tax code by the end of the year. Whether that is achievable or not is another question, and it will be interesting to see how businesses and individuals react to this bill as they learn more about it."
“Uncertainty still remains a dominant concern in the tax community. One thing we hear from tax executives and CFOs is that the lack of certainty around the tax code is inhibiting business investment. The bill released today also affirms the concerns we hear from tax professionals about the depth and breadth of offsets needed to finance lower tax rates."
“The next few weeks may be among some of the busiest for tax policy that we have seen in Washington for some time. Companies will be well-served to engage in scenario modeling and planning to better understand what reform – if it were to pass – might mean for them.”
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