Trump Administration Releases Tax Reform Proposal
On April 26, 2017, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary D. Cohn held a press conference to outline President Trump’s tax reform proposal (the “Proposal”). The Proposal is merely a high level outline of the President’s proposal to Congress regarding changes to the tax law. The details of the Proposal remain unclear, as does the revenue cost of the Proposal. Accordingly, the likelihood of passage of all or a part of the Proposal is uncertain.