Item of Interest
It may seem hard to believe, but tax reform is getting more attention this election year. Reports surfaced late last week that former Ways and Means Committee Chairman, now Speaker Paul Ryan has blessed the efforts by committee chairman to move forward with reforming the corporate and international tax code. Last week we reported that House Republicans have introduced business tax reform legislation that could eliminate almost every deduction, including LIFO. This week, Chairman Kevin Brady was set to retreat with his committee to discuss a path forward to tackle this monumental task. Challenges remain though, as we would remain concerned over the prospect of reforming international and corporate rates and a promise to get to the individual side after a new president is elected.
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