NSBA provides a detailed analysis on the recently-released Tax Cuts and Jobs Act of 2017 (H.R. 1) which would have significant impacts on numerous sectors of the economy.
Tag Archive: Individual Income Tax Brackets
On Sept. 27, leaders in both chambers of Congress and the administration released the Unified Framework for Fixing Our Broken...
Policymakers continue to discuss tax reform, with House Republicans touting their Blueprint and President Trump calling for broad tax reform in his recent address to Congress.
House Speaker Paul Ryan (R-Wis.) recently unveiled a comprehensive tax reform blueprint as part of his “Better Way” agenda which is likely to be taken up in 2017.
Late last week, House Ways and Means Chairman Dave Camp (R-Mich.) released his much-anticipated tax reform draft which would lower corporate and individual tax rates, reform U.S. international tax rules and aims to simplify the tax code--a positive first step toward broad reform. Similar to Camp’s previous discussion drafts that he unveiled in 2011 and 2013, this latest draft is not an introduced bill, but it does contain legislative language. Although Congress faces significant election-year challenges in enacting tax reform legislation, Camp plans to work this year to gain support from lawmakers on both sides of the aisle for a comprehensive overhaul of the tax code.