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Marc Gerson Quoted on Tax Policy Forecast Survey in Accounting Today

Subtitle
"The Changing Dynamics of Tax Reform"

Accounting Today

Marc Gerson was quoted regarding the 2017 Tax Policy Forecast Survey by Miller & Chevalier and the National Foreign Trade Council (NFTC). According to the survey, there is significant optimism for comprehensive tax reform from leading tax executives at U.S. and foreign-based companies, with 84 percent of respondents believing it will happen this year or next. "There is a lot of enthusiasm for tax reform this year, but healthcare adds a lot of uncertainty with the timing and the process. Nevertheless, our respondents are still uncertain as to the net impact of a comprehensive tax reform package on their businesses in light of the significant revenue-raising provisions, such as the border adjustment tax, that are being considered," Gerson said. Respondents also indicated that the border adjustment proposal in the Republican tax blueprint is the measure they are most closely monitoring, followed by an insufficient reduction in the statutory rate and limits on interest deductibility. "The border adjustment proposal is probably the largest revenue raiser in the Blueprint," Gerson said. "It's an underpinning of the entire package, so if it came out there would have to be different revenue offsets, or potential increases in the targeted tax rates."