On September 27, 2017, a group of top Trump administration officials and key leaders from the House and Senate released an aspirational outline for future tax reform referred to as the “Unified Framework” (the “Framework”).
Similar to a one-page plan previously released by the Trump administration back in April, the Framework sets forth a sweeping set of potential tax reform objectives but is lacking in substantive detail. The Framework is also generally consistent with key themes and concepts set forth in the earlier “House blueprint” released by Republicans in June of 2016.
This alert briefly touches on the highlights of the Framework, which Congressional tax-writing committees will be asked to refer to as a template for reform in the coming months as the specific contours of any substantive legislative proposals actually take shape.
Read our client alert.