Tax Policy Trends: Republicans Reveal Proposed Tax Overhaul

Auteurs-es

  • Philip Bazel University of Calgary
  • Jack M. Mintz University of Calgary

DOI :

https://doi.org/10.11575/sppp.v10i0.43140

Résumé

REPUBLICANS REVEAL PROPOSED TAX OVERHAUL


The White House and Congressional Republicans have revealed their much-anticipated proposal for reform of the U.S. personal and corporate tax systems. The proposal titled, “UNIFIED FRAMEWORK FOR FIXING OUR BROKEN TAX CODE” outlines a number of central policy changes, which will significantly alter the U.S. corporate tax system. The proposal includes a top federal marginal rate reduction for the sole proprietorships, partnerships and S corporation—small business equivalents— from 39.6% to 25% (state income tax rates would no longer be deductible). Large corporations would also see a meaningful federal rate reduction given the proposed drop in the federal corporate income tax rate from 35% to 20%. Additionally, the proposal includes a generous temporary measure intended to stimulate investment, full capital expensing for machinery with a partial limitation of interest deductions.

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Publié-e

2017-10-12

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