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ARTICLE · 30 JUNE 2015

Tax Policy Update - June 23, 2015

McGuireWoods LLP
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NUMBER OF THE WEEK: $3 Trillion. The projected addition to the federal deficit over 10 years if Republican presidential hopeful Rand Paul's flat-tax proposal went into effect, according to a Tax Foundation analysis of the plan.

United StatesTax
Russell Sullivan
Russell Sullivan
Danielle Dellerson
Danielle Dellerson
Lai Lam
Lai Lam
Daniel Chung
Daniel Chung

NUMBER OF THE WEEK: $3 Trillion. The projected addition to the federal deficit over 10 years if Republican presidential hopeful Rand Paul's flat-tax proposal went into effect, according to a Tax Foundation analysis of the plan. Paul has said he would cut spending to prevent deficit increases. His 14.5 percent flat-tax for corporations and individuals has also been criticized for hurting middle-income earners while reducing taxes for those with high incomes. Paul claims it would send the economy into overdrive, helping earners at all levels.

LEGISLATIVE LANDSCAPE

JCT Releases Repatriation Report. The Joint Committee on Taxation (JCT) published a report this week examining the various options for harnessing some cash flow from U.S. multinationals' earnings held abroad ahead of the House Ways and Means subcommittee hearing tomorrow on using a repatriation tax holiday to finance the dwindling Highway Trust Fund. House Republicans seem to be coalescing around

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