With a Republican President and GOP majorities in both chambers of Congress, there is a likelihood that Washington may pass comprehensive tax reform in 2017. The President has identified tax reform as one of his top three priorities, and some would argue that tax reform is a “must do” given the slow economy and the dreadful state of the tax system. The Republicans’ false starts earlier this year on repealing and replacing the Affordable Care Act illustrate that advancing legislation is challenging and often unpredictable, notwithstanding Republican control.
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