The "Big Six" issued their "Unified Framework for Fixing Our Broken Tax Code". The framework is intended to give a template for the tax-writing committees to develop tax reform. The framework is also consistent with President Trump's four principles for tax reform:
The nine page framework is very similar to the one page document that President Trump issued in April 2017. Below are the highlights of the framework:
While this framework provides a little more detail than the proposal in April, there are still a lot of unanswered questions. There is still much to be negotiated within the committees and ultimately Congress, but we will keep you informed throughout the progression of this tax reform. If you have any questions, please contact your local UHY LLP professional.