Unified Framework for Fixing Our Broken Tax Code
This memorandum, published by the U.S. House of Representatives’ Ways and Means Committee, lists the details of the Unified Tax Reform Framework, published in September 2017.
This memorandum, published by the U.S. House of Representatives’ Ways and Means Committee, lists the details of the Unified Tax Reform Framework agreed upon by the Trump administration and leaders of the U.S. House Committee on Ways and Means and Senate Committee on Finance.
The framework is designed to promote economic prosperity for all, the memorandum says.
“This framework will deliver a 21st century tax code that is built for growth, supports middle-class families, defends our workers, protects our jobs, and puts America first,” the memorandum says. “It will deliver fiscally responsible tax reform by broadening the tax base, closing loopholes and growing the economy. It includes tax relief for middle-class families, the simplicity of ‘postcard’ tax filing for the vast majority of Americans; tax relief for businesses, especially small businesses; ending incentives to ship jobs, capital, and tax revenue overseas; broadening the tax base and providing greater fairness for all Americans by closing special interest tax breaks and loopholes.”
Congress will use the document as a template for upcoming tax reform legislation, the memorandum says.
“This unified framework serves as a template for the tax-writing committees that will develop legislation through a transparent and inclusive committee process,” the memorandum says “The committees will also develop additional reforms to improve the efficiency and eﬀectiveness of tax laws and to eﬀectuate the goals of the framework.”