House Committee on Ways and Means Chairman Kevin Brady should be applauded for working to build on the success of tax reform by introducing the framework for “Tax Reform 2.O.” Forbes outlined how this plan will expanded on the achievements of tax reform that was passed in December.
The plan would make the tax cuts for individuals permanent. This would provide benefits for small business for years to come and would allow them to invest in their businesses without fear that their rates could be increased when the cuts expire.
Moreover, the framework would provide huge benefits to new businesses though initial and expanded expensing. It will work to remove barriers to the creation of new businesses, which will undoubtedly have a positive impact on the US economy. There will also be many benefits for individuals and families.
We hope that Congress will come together and work to strengthen tax reform by passing this framework.