Tagbusiness tax

Business Tax Overhaul Obstacles

Capitol buildingThere was an interesting article in yesterday’s Wall Street Journal about the difficulties facing an overhaul of the tax system.  The article can be found here.

Business Tax Reform High Priority

Capitol buildingBy:  Amanda Wilson

Last week, I was at the ABA Tax Section meeting in DC, and one refrain that I heard over and over is that tax reform is a major priority for Congress.  The Obama administration has basically shut down the possibility of personal tax reform by threatening a veto on any legislation that lowers the top individual tax rate from 39.6%.  However, business tax reform continues to be open for discussion, and there is a strong appetite for lowering the corporate tax rate.  The key issue, though, is that any tax reform will have to come soon – before the presidential campaign over shadows everything.

Stay tuned!

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