There’s support, and there’s legislative action. Treasury Secretary Steven Mnuchin says “We're able to take the tax code and redesign things, and I think there is very, very strong support” for tax reform. But "if Trump can't line up support for health care, it's going to be hard to see how he will be able to lead on tax reform," notes TPC’s Bill Gale. Then there’s the matter of process: Budget expert Stan Collender explains why prospects for corporate tax reform are dim.
There’s “reform,” and there are “cuts.” House Freedom Caucus leader Mark Meadows told ABC’s This Week that maybe tax cuts don’t have to be offset. Will he get agreement on that point from Speaker Ryan?
Whatever happens: It’s always good to be prepared. Tax reform remains on the national agenda, in spite of its rocky path forward. TPC offers new briefs explaining: the ability to shift business income given wide tax rate differentials; refundable individual tax credits; and federal, state, and local infrastructure spending.
No foolin’: Amazon will collect sales tax in every state with sales tax beginning April 1. The National Conference of State Legislatures estimates that states lost $23.3 billion in 2012 because they couldn’t collect use tax from self-reporting online consumers. After April, the only states in which Amazon won't collect taxes are sales-tax free Alaska, Delaware, Oregon, Montana and New Hampshire.
Louisiana’s sales tax: Due for a change? Governor John Bel Edwards will announce his plan to reduce the state’s 10 percent sales tax by not renewing the 1-cent hike approved last year. He’d make up for the lost revenue by taxing cable television, concerts and football games.
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