The Trump administration’s pledge to slash the corporatetax rate faces an immovable obstacle: how topay for the lost revenue that would come from the cuts.
On the campaign trail, President Trump vowed to gut thecorporate rate from 35 percent to 15 percent, a plan central to theadministration’s larger pro-growth economic agenda.
Details of a road map for tax reform have to yet to emerge fromthe White House. But Gary Cohn, Trump’s director of the NationalEconomic Council, recently told CNBC that the administration iscommitted to advancing tax reform under the budget reconciliationprocess, which will require any changes to the tax code to bedeficit-neutral over the next 10 years.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.