US plans to release tax reform framework

CNC
Added On August 12, 2017

Reports said the White House plans to release a brief document in early- to mid-September outlining a framework for overhauling the U.S. tax code.
 
Reports said in a sign of the Trump administration's struggles to advance its domestic policy agenda, the three-to-five-page document would not be accompanied by tax legislation.
 
But the framework would come from the "Big Six" congressional and administration leaders on tax reform, the same group that released a joint statement on taxes in July, after months of closed-door talks.
 
It was unclear whether all of the Big Six members have agreed on the release. 
 
But the reports said the White House has told business representatives and lobbyists in recent days to expect a tax reform framework next month.
 
The White House had no comment.
 
Financial markets rallied in late 2016 and early this year on expectations that Trump would cut corporate taxes early in his presidency. 
 
But after more than six months in power, he has yet to score a major legislative victory or introduce significant legislation of any kind to Congress.