Miller & Chevalier Chartered and the National Foreign Trade Council (NFTC) announced the results of their 2018 Tax Policy Forecast Survey, in which tax executives said they are optimistic about the effect of the Tax Cuts and Jobs Act of 2017 (TCJA), the first comprehensive tax reform law enacted in more than 30 years, on their businesses. Respondents are nearly unanimous in their belief that the TCJA will improve the standing of U.S. businesses on the global stage, but also indicated more work remains to be done. Most respondents (73 percent) intend to request regulatory guidance or technical corrections to the law; 43 percent expressed concern that Congress won't be able to effectively enact technical corrections in a timely manner; and 23 percent are unsure if the TCJA will endure following the 2018 and 2020 elections.

The survey is led by Miller & Chevalier Chair Marc J. Gerson, former majority tax counsel to the U.S. House of Representatives Committee on Ways & Means. Associate Sean Morrison* assisted the survey effort.

The survey was cited by Politico Morning Tax, Tax Notes Today, Law360, CFO.com, the Bloomberg Daily Tax Report, Compliance Week, Accounting Today, fDi Magazine, and FEI Daily. 

*Former Miller & Chevalier attorney