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Marc Gerson Quoted on Tax Reform Revenue Raising Without BAT in Accounting Today

Subtitle
"Parsing the Future of Tax Reform: 'A World of Unknowns'"

Accounting Today

Marc Gerson, Chair of Miller & Chevalier and former Republican tax counsel for the House Committee on Ways and Means, was quoted regarding the decision to remove the border adjusted tax (BAT) from future tax reform efforts. "The abandonment of the BAT is particularly significant, given its prominent role in the House Republican Blueprint," Gerson said. "It will have a dramatic impact on any future tax reform proposal developed by the congressional tax-writing committees, and may have wide-spanning impacts on the proposed tax rate reductions, the extent of enhanced cost recovery, and other key components of any future proposal. Given that the revenue raised by the BAT is now off the table, consideration will need to be given to additional revenue-raisers and perhaps the overall revenue impact of a tax reform package."