Five challenges for tax reform

[Free Vulcan]

Lawmakers and lobbyists believe that 2017 presents their best chance in years for comprehensive tax reform.

President-elect Donald Trump and Republican leaders in the House and Senate have all named tax reform as one of their top priorities.

But overhauling the tax code is notoriously difficult and moving legislation is no slam dunk.

Tax-reform advocates say those hurdles can be overcome but acknowledged that lawmakers will have to make some big decisions.

“There’s good reason to be optimistic that tax reform can be done next year,” said Pete Sepp, president of the National Taxpayers Union, a group pushing for reforms. “That doesn’t mean we won’t have to put in the work.”

Here are five challenges that remain to passing tax-reform legislation in 2017:...

Read more at: http://thehill.com/policy/finance/domestic-taxes/306849-five-challenges-for-tax-reform

[txradioguy]

The Hill seems to forget Reagan got tax reforms done with a heavily Dem House and Senate.

Its not impossible...you just have to have a game plan...stick to it...and dont cave to the media assault that will come at you.

[jmyrlefuller]

The Hill seems to forget Reagan got tax reforms done with a heavily Dem House and Senate.

Its not impossible...you just have to have a game plan...stick to it...and dont cave to the media assault that will come at you.

That, and he had a starting point where the top marginal tax rate was in the 70s. Having to reform the tax code when taxes are too high to allow for sustained economic health is not all that controversial.

It's when you have two out of five people off the tax rolls entirely, and massive budget deficits at the same time, when it becomes a serious problem. Nobody wants to pay more taxes.