Deloitte Responds to Tax Reform Outlook From President

WASHINGTON, Mar. 1, 2017 — Deloitte’s Tax Policy Leader Jon Traub, principal, Deloitte Tax LLP, offered the following statement in response to the tax reform outlook provided during President Trump’s address to Congress on February 28, 2017:

“It’s an exciting yet uncertain time for tax reform, with prospects rising for Congressional action and talks of revenue raisers to pay for it swirling around the Capitol and in corporate boardrooms. What is certain is that difficult choices face Congress if they intend to enact tax reform this year. We are in the very early stages of a very long game, so twists and turns are more likely than not."

“There is much uncertainty in all of this, but it is possible we will emerge from the debate with an entirely new way of taxing businesses in the U.S. Companies are rightly eager to understand the potential impact of these proposals on their tax burden and supply chains. To be prepared in this uncertain tax environment, companies can consider situational modeling that weigh proposals against one another, scenario plan, and create customized alternatives in order to analyze the effects of various tax reform proposals.”

About Deloitte Tax LLP
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About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including 80 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to deliver measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society.