Tuesday, January 31, 2017

Preparing for Upcoming Agenda Topics

With tax reform and repealing Obamacare at the top of the Presidential and Congressional agenda, this is an exciting time in Washington and all around the world.

A comprehensive overhaul of the U.S. tax system was last accomplished in 1986 opined advised that this will be completed during the first "100 days". The reduction of the corporate tax rate and 100% expensing of all plants and equipment are long overdue but they will come with the repeal of many credits and deductions vital to many company's return on investment and essentially the bottom line.

President-elect Trump has just referred to the border-adjustment measures as complex, yet his economic advisors understand the need to address the infrastructure projects to ultimately find a comfortable balance in transitioning ahead with the plan to grow the American economy. This is a concern that will most certainly hit all industries in one form or another and the specific details of the proposal, like tax reform generally, will produce winners and losers for decades to come.  Some of the industries that may be greatly impacted are aviation, banking, construction, electronics, manufacturing, pharmaceuticals, retail and real estate.

Recognizing the importance of comprehensive tax reform, particularly in the international/corporate area I have decided to work on tax related issues with the New World Public Affairs Group (NWPAG) which specializes in tax policy.

The NWPAG is headed by former 14 year Ways and Means member Jerry Weller. Former Congressman Weller, you will recall, was both an engaged and effective member of the Committee as well as a key member of the House leadership. His colleague, David Miller, is a veteran of the 1986 Tax Reform Act (TRA) and has, over the years, represented a variety of tax related clients including The Limited, the Colonial Williamsburg Foundation, and American Airlines.

I am proud to be associated with these professionals; we are happy to address your concerns and I hope that you will consider a proposal from us to represent you on this critical issue.