New Republican Tax Framework

On September 27, a group of leaders from the Trump Administration, the House Ways and Means Committee and the Senate Finance Committee released a 9-page framework describing a proposed overhaul of the U.S. tax code. Their summary is intended to serve as a non-binding template for the tax-writing committees in the U.S. Congress to develop federal tax legislation. This proposal is the most significant step to date on tax reform from the Republican leadership, as it includes input from each of the parties that have a role in ultimately enacting tax legislation. Below we describe a few key tax proposals in the framework that may be relevant to non-U.S. corporations that invest in the United States.