Last month, Republican congressional leaders and the president released their “Unified Framework for Fixing Our Broken Tax Code.” As our statement indicates, MSCI believes comprehensive federal tax reform represents the most important opportunity in a generation to strengthen economic growth and to bring greater prosperity, choice and control to our industry and American families.
The framework released in September is a set of guidelines policymakers should strive to achieve. It is therefore short on the details and does not fully address our members’ priorities, which we outlined in our comments to U.S. Senate Finance Committee Chairman Orrin Hatch. We pledge to work with our industry colleagues to demonstrate to lawmakers the importance of ensuring:
- Corporate and pass-through rate parity;
- Preservation of LIFO;
- Interest deductions; and
- Permanent and immediate expensing for capital investments.
Congress is moving fast on this issue. Here’s what you need to know.