Article prepared by and republished courtesy of our colleagues Evan Migdail and Steven Phillips; originally published here: https://www.dlapiper.com/en/us/insights/publications/2016/11/the-trump-tax-reform-plan/

As a result of the elections, the chances for the enactment of comprehensive tax reform are perhaps greater than at any time over the past decade. A great deal of work has already been done on tax reform in the Congress. What has been lacking is the political dynamic needed to make reform a reality.

President-elect Donald Trump and Congress may also consider a scenario whereby part of the tax reform could be used to pay for an infrastructure program to create greater domestic economic growth.

What follows are brief summaries of President-elect Trump’s tax proposals and the House Republican Tax Blueprint that is expected to be a possible starting point for the consideration of reform early in 2017. 
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Article prepared by and republished courtesy of our colleagues Evan M. Migdail and Steven R. Phillips; originally published here: http://www.dlapiper.com/shutdown-likely-to-drag-on-as-issues-grow-more-complicated/.

The federal government shutdown, now in its fourth day, appears likely to continue a while longer as the list of issues under discussion between the President and Congressional leaders, and within the Congress, becomes longer and more complex.

Congress faced two major fiscal deadlines as October approached: the expiration of funding for most government operations on October 1, and the October 17 deadline reported by Treasury Secretary Jack Lew at which the United States is at risk of defaulting on its obligations absent the authority to borrow above the current debt limit of US$16.7 trillion. While discussions in late September focused on the spending deadline, the proximity of the October 17 deadline has forced a practical merger of the two issues. A resolution of the spending shutdown appears virtually unachievable without a formula on the debt issue as well.
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