Major Tax Reform in 2017?

The Trump administration and Republicans in Congress are pushing ahead with major tax reforms. There is broad agreement on the need to simplify the tax code and to cut tax rates to improve America’s competitiveness. The administration’s tax plan would slash the top business tax rate to 15 percent, while simplifying and reducing individual income tax brackets. The House reform blueprint would cut individual and corporate tax rates and allow for expensing of capital investment. The blueprint also suggests creating Universal Savings Accounts. However, there is still disagreement among experts and political leaders over changes to the business tax base, the need for revenue neutrality, and other aspects of reform. Join our panel of experts who will discuss the economics of tax reform and comment on the policy process in the months ahead. We will explore the proposed changes to individual taxes outlined in the Trump and House plans, and further, examine U.S. business taxation in light of dramatic reforms undertaken in the UK and around the world that offer important lessons for U.S. policymakers.