Today the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance together released the Unified Framework For Fixing Our Broken Tax Code, intended to serve as a template for the tax-writing committees that will develop legislation. The document discusses four principals for tax reform that it claims will broaden the tax base, close loopholes, and grow the economy:
- Make the tax code simple, fair and easy to understand (a form the size of a postcard was referenced by Speaker Paul Ryan).
- Give American workers a pay raise by allowing them to keep more of their hard-earned paychecks.
- Make America the jobs magnet of the world by leveling the playing field for American businesses and workers.
- Bring back trillions of dollars that are currently kept offshore to reinvest in the American economy.
Click here to view the full document.