Tax Reform 2.0
During a discussion yesterday with The Washington Post, House Ways and Means Chairman Kevin Brady—a former House colleague of mine—discussed his plans for “Tax Reform 2.0” and the timeline to advance that agenda.
It’s only been six months since the Tax Cuts and Jobs Act was signed into law by President Trump. We are still waiting for critical guidance from the Treasury Department and the IRS about the new Section 199A, the revolutionary and complex international tax regime, tweaked versions of cost recovery provisions and limitations on interest deductibility. But look for Republicans (at least those in the House) to begin ramping up fresh efforts to expand and improve the monumental tax overhaul.