Republican leaders released a unified framework for tax reform on Sept. 27 that would make sweeping changes to both individual and business taxation with deep corporate rate cuts and less dramatic reductions for individuals and pass-throughs.
The framework represents a general agreement between the Trump Administration and House and Senate Republican leadership on the major pillars of tax reform. It leaves many details up to the tax writing committees to resolve, but still provides the most comprehensive template for reform since the House Republican blueprint released last year.
The framework is somewhat similar to the House Republican Blueprint but without the border adjustability proposal and with a clear shift toward higher individual tax rates favored by President Donald Trump. Read our story for an in-depth examination of this new tax reform proposal.
Learn more about tax reform:
- Sign up for our Future Ready Business: Washington Impact series to understand the latest tax and regulation changes.
- Subscribe to our tax newsletters and keep yourself continually informed.
- Our recent tax reform story tells you what you can do now to prepare for changes.
- What does tax reform mean for pass-throughs? Find out here.
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