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Marc Gerson Quoted on Pending Tax Reform Framework in Bloomberg BNA

Subtitle
"Potential M&A Boom from Tax Cuts Hinges on Interest Deductions"

Bloomberg BNA

Marc Gerson, Chair of Miller & Chevalier and former Republican tax counsel for the House Committee on Ways and Means, was quoted regarding the pending tax reform framework to be released by the administration and congressional Republicans. "This framework is walking the fine line of having enough detail to get rank-and-file Republican support, but at the same time it has to balance not having too much detail on the revenue offsets," Gerson said, adding that specifics on tax provisions to be eliminated could rouse political opposition to the plan. There has been no information on whether or not base erosion prevention measures will be included in the framework, but some Republicans have said that such measures are not needed in a tax bill if the corporate rate is sufficiently low. "The lower you drive the rate, it takes pressure off those type of rules," Gerson said. "I don't know where the balance is of when the rate is low enough that the rules aren't necessary."