I wanted to share the below that was published by Tax Notes on Friday, May 25th, 2018.
The White House is working with House and Senate tax writers to draft a second phase of tax cuts, with the goal of unveiling a legislative package before the summer is out, a top White House official said.
“We are looking and running numbers on several different components that are probably more focused on the individual side,” White House Director of Legislative Affairs Marc Short told reporters on a May 25 conference call. “It’s probably toward the end of summer that that will be unveiled,” he said.
Short said that making permanent the individual tax cuts — most of which sunset in 2026 — is the top priority and that there is “more that we’d like to do,” but he declined to go into further detail on what additional tax changes might be included.
Founder, Policy and Taxation Group