One month after the presidential election, taxpayers are
learning more about President-elect Donald Trump's tax
proposals for his administration. Although exact details, including
legislative language, are likely months away, taxpayers have a
snapshot of the president-elect's tax proposals for individuals
and businesses.
Tax reform
Tax reform has been a regular topic in recent years. While
numerous tax reform proposals were unveiled during the Obama
administration, an overhaul of the Tax Code remained elusive.
President Obama released a tax reform framework that called for a
reduction in the corporate tax rate in exchange for the elimination
of some energy tax preferences and other unspecified business tax
preferences. Former House Ways and Means Chair Dave Camp, R-Mich.,
made a detailed tax reform proposal several years ago. Many members
of Congress have also introduced tax reform bills. The election of
Trump, along with GOP majorities in the House and Senate,
