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Marc Gerson Comments on Pending "Big Six" Tax Reform Framework in Bloomberg BNA

Subtitle
"Hatch: Big-Six Tax Framework Won't Dictate Finance Bill"

Bloomberg BNA

Marc Gerson commented on the Republican plan to release a tax reform framework the week of September 25. Senate Finance Committee Chairman Orrin G. Hatch noted that his committee would view the framework only as guidance for drafting legislation. Gerson, former Republican tax counsel for the House Committee on Ways and Means and Chair of Miller & Chevalier, noted that the Senate Finance Committee has its own priorities, including a dividends-paid corporate integration proposal to remove the double layer of corporate taxation. "To the extent a framework is released that does not incorporate these priorities, you would expect them to be considered by the Senate Finance Committee in its own markup. Of course, the level of detail in the anticipated framework is unknown—the framework itself may in fact provide flexibility for inclusion of Senate Finance Committee priorities."