Spotlight on

Proposed U.S. Tax Reform

The Trump Administration released a much anticipated one-page memo outlining key aspects of its tax proposal on April 26, 2017. While the memo is directional and light on specific details, one point is clear and consistent with pre- and post-election promises – we can expect any proposed legislation to include a significant reduction in the top tax rate for businesses. The proposal specifies a 15% business tax rate (compared to the current maximum corporate federal income tax rate of 35%).