(Blog): What’s My Line?



In the opening session of the 2015 ACR Summit for Leaders, we had a bit of fun with messaging around the charitable deduction while conveying the critical importance of communicating to Congress that this part of our tax code must be protected. In this session four speakers delivered four different messages about the charitable deduction and audience members voted for the most persuasive message. The presenters and moderator were all members of the Charitable Giving Coalition, which has provided a unique and unified voice on Capitol Hill on issues affecting the charitable deduction since 2009.

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Philanthropic Achievement of the Week

1921: Carnegie Enhances Legal Education

Early in the twentieth century, rising demand for legal services led to a sharp increase in the number of lawyers, and a perceived decline in the professional standards of many of these newly minted practitioners. It was clear that reform of some kind was needed, but there was no clear leadership. Into this breach stepped the Carnegie Foundation for the Advancement of Teaching (whose origins are described in our 1905 entry).

The foundation had previously sparked a dramatic upgrade of medical education by sponsoring an influential critique known as the Flexner Report. That led to years of thoroughgoing reform, including $94 million of spending at 25 medical schools by John Rockefeller’s General Education Board. (See details at the 1910 entry of our Medical Achievements list.)

Seeking to repeat this feat in legal education, the Carnegie Foundation for the Advancement of Teaching initiated two critiques of American law schools. These, along with promptings from Elihu Root, a prominent lawyer and Carnegie trustee, caused the American Bar Association to endorsed higher standards of training. The ABA also partnered with the American Association of Law Schools to form the American Law Institute, which used $2.1 million of Carnegie funding to create accessible archives of the authoritative interpretations of U.S. law. ALI became the leading curator of court decisions and assisted in the development of the U.S. Uniform Commercial Code.

ACR News 03.20.15 - Ways and Means Member Resigns, Budgets Unveiled

>> Federal: Washington Roundup
>> Federal: Budgets Silent on Tax Reform
>> Federal: Ways and Means Member Resigns
>> Federal: Public Policy Guidebook
>> Federal: ACR Summit
>> Top Reads: Nonprofit Tax Changes Are Possible This Year, Says House Official


Washington Roundup

Over the past several days, House and Senate Republicans released their respective 2016 budget resolutions. The Senate plan cuts $5.1 trillion in spending over the next ten years, whereas the House proposal reduces spending by $5.5 trillion.

While the ultimate product is not binding, from a political perspective these proposals are more meaningful than in past years as both the House and Senate are under Republican control. A new joint budget resolution – agreed upon by both the House and Senate – would only set broad goals for spending levels in each department of the federal government. Keep in mind that while budget resolutions require a simple majority to pass, the GOP majority in the Senate is slim and if the budget is too extreme, it could make some Republican senators who are up for reelection in swing states vulnerable during their 2016 campaigns. At the same time, a watered-down budget proposal may lose the support of more conservative members.

As for next steps, both the House and Senate Budget Committees marked up their budget resolutions this week. Full votes in each chamber are expected later next week and, should the resolutions pass, a conference committee would convene to reconcile differences between the two plans. This sets up a showdown between fiscal conservatives, who want to rein in spending, and pro-defense Republicans, who want to increase funding for the military.

It’s important to note that under congressional rules, budget resolutions require a simple majority to pass the House and Senate. Therefore Republicans would bear most of the responsibility if a bill fails to pass. Follow-up legislation will be required to actually implement and allocate federal spending. That is expected to take place before current federal funding expires on September 30.


Budgets Silent on Tax Reform

The House budget plan is largely silent on tax reform. It calls for “comprehensive tax reform that would include lower rates for individuals and families, as well as large corporations and small businesses who often file their tax returns through the individual side of the tax code.” This breaks from previous budgets, which focused on lowering the top individual and corporate rates specifically to 25 percent. The document does not offer any details about cutting specific tax breaks to broaden the base, except “by closing special interest loopholes that distort economic activity.” Charitable giving incentives were not mentioned.

Similar to the House proposal, the Senate resolution contains few details on tax reform. Instead of calling for specific rates, the proposal stresses the need to reform the code and “extend certain expiring tax relief provisions for innovation and high quality manufacturing jobs” and to “repeal the 2.3 percent excise tax on medical device manufacturers.” No other specific tax incentives are mentioned.


Ways and Means Member Resigns

Ways and Means Member Aaron Schock (R-IL) announced this week that he will resign from Congress in the face of scrutiny over his use of taxpayer dollars. Schock’s resignation is effective March 31. 

Schock’s retirement leaves an open seat on the Ways and Means Committee. Early reports indicate that Republican House Members are already lining up for the spot. You may recall that at the end of last year, four members were “on the bubble” to fill vacant seats: Representatives Bill Huizenga (R-MI), Reid Ribble (R-WI), Tom Rice (R-SC), and Todd Rokita (R-IN). The selection process could take weeks after Representative Schock’s resignation goes into effect.


Public Policy Guidebook

The Philanthropy Roundtable announced this week the public release of its latest guidebook, Agenda Setting: A Wise Giver’s Guide to Influencing Public Policy, which will help readers understand the growing role of donors in altering law, opinion, and public policy.

The book presents a diverse collection of human stories, case studies, and advocacy efforts from the annals of U.S. public-policy philanthropy, spanning from the pre-Civil War era to controversies in 2015. It makes clear that public-policy philanthropy is nothing new in America, and that private policy-shaping efforts have mirrored the expansion of the public sector—where government has tripled in size from 12 percent of U.S. GDP in 1930 to 36 percent today.

The guidebook profiles significant players in public-policy philanthropy like Charles and David Koch, George Soros, Betsy DeVos, Gara LaMarche, Art Pope, and many others. It compiles short histories of more than 100 major projects in U.S. public-policy philanthropy, including the anti-slavery movement, education reform, environmental activism, philanthropic funding for new media, and many other issues.

Agenda Setting: A Wise Giver’s Guide to Influencing Public Policy can be downloaded as a free PDF at The Philanthropy Roundtable’s website or purchased as an e-book at Amazon and other outlets.


ACR Summit

Finally, we would like to thank all of you who came to this week’s ACR Summit for Leaders. We had a surge in registration and higher attendance than originally anticipated. We are grateful for the active members of the charitable sector who are vigorous in their defense of protecting philanthropic freedom. We will be posting video of two of the panels from this year’s Summit on our YouTube page next week.


Top Reads

Uncovering Philanthropy’s Vital Role in Public Policy

The Philanthropy Roundtable Unveils Guidebook On Public-Policy Philanthropy

WASHINGTON, D.C.— The Philanthropy Roundtable announces the public release of its latest guidebook, Agenda Setting: A Wise Giver’s Guide to Influencing Public Policy, which will help readers understand the growing role of donors in altering law, opinion, and public policy.

“Almost every major controversial issue today, from school reform to gay marriage, from public-pension bankruptcy to marijuana legalization, has philanthropists working on all sides to bring useful facts and arguments into the discussion. Donors are now driving really robust debates, and this guidebook will be a valuable resource as philanthropy becomes an increasingly important part of governance and policy change in America,” said Adam Meyerson, president of The Philanthropy Roundtable.

The book presents a diverse collection of human stories, case studies, and advocacy efforts from the annals of U.S. public-policy philanthropy, spanning from the pre-Civil War era to controversies in 2015. It makes clear that public-policy philanthropy is nothing new in America, and that private policy-shaping efforts have mirrored the expansion of the public sector—where government has tripled in size from 12 percent of U.S. GDP in 1930 to 36 percent today.

“One often hears the argument these days that we are in the midst of some unprecedented and un-American meddling in public affairs by private donors. That’s historically inaccurate. In truth, donors have been crucial to the success of some of our nation’s most important and necessary public-policy reforms for generations,” explains Karl Zinsmeister, the book’s co-author.

The guidebook profiles significant players in public-policy philanthropy like Charles and David Koch, George Soros, Betsy DeVos, Gara LaMarche, Art Pope, and many others. It compiles short histories of more than 100 major projects in U.S. public-policy philanthropy, including the anti-slavery movement, education reform, environmental activism, philanthropic funding for new media, and many other issues.

Agenda Setting: A Wise Giver’s Guide to Influencing Public Policy can be downloaded as a free PDF at The Philanthropy Roundtable’s website, purchased as an e-book at Amazon and other outlets, or mailed as a printed book to interested parties.

Philanthropic Achievement of the Week

2007: Strengthening Character Through Sports

David Weekley was involved in character-building activities as a youth through Boy Scouts and church groups. After his success as a major home builder he decided to devote 50 percent of his money and his time to philanthropy, and character development was a key concern. It “is every bit as critical as economic aid or health care or education reform,” he told Philanthropy. Weekley was a longtime funder of Scouting, which reaches 20 or 25 percent of young people; sports, however, reaches around 75 percent. “I’m not personally a sports enthusiast but the country has become more focused athletically and more and more kids are involved,” said Weekley, so he set out looking for a charitable partner who could help children and their coaches build wholesome and productive values through athletics.

Weekley discovered there was no national organization doing this well, but his gaze eventually settled on a small northern California group called the Positive Coaching Alliance. Founded in 1998 and operating at just a handful of regional locations when Weekley discovered it, PCA trains parents in positive sportsmanship, teaches coaches how to offer constructive life lessons to their charges, and helps athletes become better teammates and citizens. Weekley offered the group grants to expand first to his home town of Houston, and then to the rest of Texas, Boston, Chicago, and dozens of other cities. Believing that decentralized leadership and local boards “are critical” to grassroots success, Weekley worked with the group’s leaders to develop a model that would allow many other cities to start their own chapters. PCA also built strong links to existing groups like Little League baseball, Pop Warner football, and the Amateur Athletic Union.

Within a few years, 5 million young athletes had been touched by the PCA, and numerous other philanthropists had gotten involved, including the S. D. Bechtel Jr. Foundation, which gave the group a $2 million grant in 2012. “There’s no reason that in 10-15 years PCA can’t become like the Boy Scouts or YMCA in every major city in the country,” says Weekley. “The need for character development, given the breakdown of the family and other challenges we face in our society, is not going away, and PCA has the potential to have a major impact.”

ACR News 03.06.15

>> Federal: Washington Roundup
>> Federal: Rubio and Lee Release Tax Reform Proposal
>> Federal: Working Groups Set Timeframe
>> Federal: Senate Hearings Continue
>> Federal: Hatch Discusses Tax Reform Progress
>> Federal: ACR Summit
>> Consider This: The Effect of King v. Burwell on Tax Reform
>> Top Reads: The Lee-Rubio Tax Proposal


Washington Roundup

On Tuesday, the House approved a bill to fully fund the Department of Homeland Security (DHS), narrowly avoiding a shutdown. Congressional leaders worked through the weekend to negotiate a “clean bill” – one without unrelated policy items – after Republicans attempted to use the effort to undo components of President Obama’s recent executive actions on immigration. The DHS is now fully funded through September.

On Wednesday, the Supreme Court heard opening arguments in King v. Burwell – a case that will determine whether the Affordable Care Act’s tax subsidies are legal in over 30 states that did not set up their own health insurance exchanges and relied on the federal government’s website to enroll their citizens. This case is shaping up to be a big distraction for key Republicans, specifically House Ways and Means Chairman Paul Ryan (R-WI) and Senate Finance Committee Chairman Orrin Hatch (R-UT). We discuss this case more in our Consider This column below.


Rubio and Lee Release Tax Reform Proposal

Also on Wednesday, Senators Marco Rubio (R-FL) and Mike Lee (R-UT) released a tax reform plan that attempts to create a “flatter tax system.” The plan eliminates almost all tax deductions and credits, but maintains the charitable deduction and a modified home mortgage interest deduction. Additionally, the proposal consolidates the individual income tax rates into two – 15 and 35 percent – and eliminates taxes on capital gains, dividends, and estates.

While neither Senator is a Member of the Senate Finance Committee, this document is important because it reflects the thinking of an influential wing of the Republican caucus in the Senate. It is also a positive development for us as it preserves the charitable deduction.


Working Groups Set Time Frame

The Senate Finance Committee’s bipartisan tax reform working groups continue holding educational meetings as they work toward producing final reports by late May. Roundtable presentations before the full Committee are tentatively scheduled for the last three weeks in April. The groups will present their findings behind closed doors. This process will presumably give everyone a sense of the areas of agreement and disagreement, and where they should focus their efforts regarding final proposals.


Senate Hearings Continue

The Senate Finance Committee held another tax reform hearing Tuesday examining fairness in the tax code. In his opening statement, Chairman Hatch told the Committee, “If our tax reform efforts are going to be successful, it is essential that the final – hopefully bipartisan – product is viewed as fair.” Witnesses presented differing views on how to increase fairness and Ranking Member Ron Wyden (D-OR) highlighted his previous proposal to significantly increase the standard deduction and increase the spending power of middle-class earners. The meeting was cut short due to Israeli Prime Minister Benjamin Netanyahu’s address to Congress and ACR’s issues were not discussed.

The Committee will hold another hearing on simplification next week.


Hatch Discusses Tax Reform Progress

Last weekend, the New York Times interviewed Senate Finance Committee Chairman Orrin Hatch (R-UT) about tax reform and other issues before the Senate. Hatch said there were “some very good concepts” in former House Ways and Means Chairman Dave Camp’s (R-MI) tax reform discussion draft (released last spring), but that the tax reform process is “probably going to take longer than two years.”

However, as you may recall, Ways and Means Chairman Paul Ryan (R-WI) said last month that tax reform must be “done by summer,” otherwise it will be difficult to move. This stands in contrast to Chairman Hatch’s comments, and at this time it is unclear how these timetables will be reconciled.


ACR Summit

There are less than two weeks until the 2015 Alliance for Charitable Reform Summit for Leaders. If you have not already registered, we invite you to join us and learn what we can do to protect private giving and educate lawmakers about the critical role of charitable organizations in a free society.

Registration: To register for the ACR Summit as well as other events during Philanthropy Week in Washington, click here. Attendance is free.


Consider This: The Effect of King v. Burwell on Tax Reform

Earlier this week, the Supreme Court heard arguments in King v. Burwell, a case that could eliminate tax subsidies for low and middle income people who get their healthcare in states where enrollment is set up by the federal government, not the states. If that happens, an estimated 7.5 million people (some estimates are higher) will lose that assistance.

As a result, behind the scenes this Republican Congress has been consumed with what to do if those subsidies go away. The players that are most involved are those on the tax writing committees: House Ways and Means and Senate Finance. As Senate Finance Committee Chairman Hatch said recently, “We’re going to have to have an approach that will take care of that….I’ve been in meetings all week on, “How do we resolve this problem?”” 

King v. Burwell is taking most of the air out of the room, leaving little time to pursue other items on the agenda for Ways and Means and Finance – things like trade and tax reform. King v. Burwell could pose a huge political problem for Republicans heading into the 2016 elections and that is why there is such a scramble underway to find a contingency plan.

There is a potential silver lining. A back-up plan could be a positive catalyst for change in other areas both on the tax and healthcare fronts.

We expect a Supreme Court decision in June. In the meantime, we expect this issue to dominate the Ways and Means and Finance Committee agendas. 


Top Reads

Philanthropic Achievement of the Week

2008: Lincoln’s Cottage

It is little known that for fully a quarter of his presidency, Abraham Lincoln didn’t live in the White House. He and his family chose to reside at a cottage on the grounds of a home for retired soldiers in northern Washington, D.C. At that time this was a rural area, and amidst the pressure of the Civil War, their sorrow over losing their 12-year-old son Willie, and the fact that the White House was a wide-open bedlam where the President could be besieged by public petitioners at any time of day or night, the Lincolns found the quiet green oasis a place of peace and comfort. They slept there just days after their first inauguration, and on the night before the President was killed. Lincoln made some of his most momentous decisions there, including formulating the Emancipation Proclamation, and he read the Bible, poetry, and Shakespeare on its breezy porch. One historian described the Soldiers’ Home cottage as “The only place we are certain Lincoln was happy during his Presidency.”

After being largely forgotten for generations, the cottage was preserved and opened to the public by a private nonprofit, the National Trust for Historic Preservation. Funds were raised to restore the building and interpret it for visitors, with real-estate developer and philanthropist Robert H. Smith being the primary donor. United Technologies Corporation provided $1 million and technical expertise to help create the nearby visitor center. Matthew and Ellen Simmons, Save America’s Treasures, and many other foundations and individuals also contributed. Lincoln’s Cottage opened for fascinating public tours in 2008.

ACR Summit for Leaders



ACR Summit for Leaders
March 18, 2015
8:00 - 10:50 a.m.
Breakfast available at 7:30 a.m.
Washington Court Hotel
525 New Jersey Avenue, NW
Washington DC 20001

In 2014, we saw the release of a 1000-page tax reform draft, a new chairman of the Senate Finance Committee, and an election that shifted the balance of power in Congress. What can we expect in 2015? With new chairmen for both the House Ways and Means and Senate Finance Committees– former Vice Presidential candidate Paul Ryan (R-WI) and Senator Orrin Hatch (R-UT) respectively – we expect next year to be another significant year for tax policy.

With so many tax issues still to be debated, nothing is completely on or off the table. Given the new political landscape, now is not the time for the philanthropic community to stay on the sidelines. We hope you will join us at the 2015 ACR Summit for Leaders to learn about what we can do to protect private giving and educate lawmakers about the critical role of charitable organizations in a free society.

Registration for the ACR Summit is closed. Please check back here for a wrap-up of this year’s ACR Summit as well as information on future ACR events.


Sessions

What’s My Line?
As we anticipate another round of tax reform efforts on the Hill, we’ll have a bit of fun with messaging around the charitable deduction while still conveying the critical importance of communicating to Congress that this part of our tax code must be protected. In this session four speakers will deliver four different messages about the charitable deduction and audience members will vote for the most persuasive message. The presenters and moderator are all members of the Charitable Giving Coalition, which has provided a unique and unified voice on Capitol Hill on issues affecting the charitable deduction since 2009.

Jeopardy!
2015 ushered in the first Republican Congressional majority in eight years as well as two new Chairmen for the tax-writing committees. Both Senate Finance Committee Chairman Orrin Hatch (R-UT) and House Ways and Means Committee Chairman Paul Ryan (R-WI) have expressed strong interest in undertaking comprehensive tax reform this year, and indeed their committees have already taken up tax legislation impacting the philanthropic community. We will hear an “insiders” perspective from Congressional staff on what lies ahead and how our sector can inform the debate.

The Congressional panel will be off the record.

The Dating Game
Sharing our stories with policymakers often means talking about place-based philanthropy – that special relationship between grantmakers and communities. Sometimes the focus is on the place a donor once – or still – calls home. Other times, the special place is a neighborhood, a town, a state, a region, even a country, where a particular challenge resonates with one’s philanthropic mission. In this session speakers representing individual donors, a community foundation, and a private foundation will present their stories of place-based philanthropy and discuss how those stories can build strong and sustained relationships with federal, state, and local public officials.

Philanthropic Achievement of the Week

1903: Scripps Institution of Oceanography

Ellen Browning Scripps, whose fortune derived from the Scripps family’s newspaper empire, generously supported a range of charitable causes across Southern California. She donated the land and first building for a Catholic college-prep school for girls, and supported it financially for years. She endowed what would become Scripps College, a part of the Claremont Colleges that she had helped to found. She commissioned a Women’s Club’s headquarters and community center, and the country’s first public playground, in La Jolla. She funded Egyptian explorations that resulted in the San Diego Museum’s Ancient Egyptian collection. She founded the Scripps Memorial Hospital and the Scripps Metabolic Clinic.

Nature philanthropy was one of Ellen Scripps’ favorite causes. She helped preserve the area that would become Torrey Pines State Natural Reserve. She was a financer of the new headquarters of the San Diego Natural History Museum. She gave the San Diego Zoo an aviary and an animal research hospital. And in 1903, she underwrote the founding the Marine Biological Association of San Diego. Ellen gave it a sizeable endowment, and the Scripps family provided its entire operating budget for a decade until it was taken over by the University of California at San Diego and renamed the Scripps Institution of Oceanography—which is today one of the oldest, largest, and most important centers in the world for research, education, and public service on the oceans, earth, and atmosphere.

ACR News 02.20.15 - House and Senate Advance Charity Legislation

>> Federal: Senate Finance Committee Approves Charitable Bills
>> Federal: Tax Reform Talk Continues
>> Federal: ACR Summit
>> Consider This: What is the end game?
>> Top Reads: Obama Budget Again Calls for Limit to Charitable Deduction


Washington Roundup

Before leaving town for the Presidents’ Day recess, the House passed H.R. 644 – the America Gives More Act of 2015 – by a vote of 279 to 137. This bill would streamline the private foundation excise tax to a flat one percent (a longstanding ACR priority) while also making permanent the IRA charitable rollover, the deduction for conservation easements, and the deduction for gifts of food inventory. 

The vote fell generally along party lines, with Democrats objecting because the bill is not paid for, and because they would like to take up tax provisions through a comprehensive tax reform effort. However, upon passage of the bill, Ways and Means Chairman Paul Ryan (R-WI) said Congress needs to “get off this merry-go-round” of continually renewing various tax incentives. “We all know that businesses and charities need the kind of certainty that we are providing,” Ryan added.

At this time, it is unclear whether the Senate will take up H.R. 644.


Senate Finance Committee Approves Charitable Bills

Last Wednesday, the Senate Finance Committee marked up and approved a package of 17 miscellaneous tax bills by voice vote, three of which impact the nonprofit sector. The first applies the charitable deduction to agricultural research organizations, the second creates an exception to the excess business holdings rules for certain philanthropic business holdings, and the third is a bill sponsored by Senator Dan Coats (R-IN) that requires the IRS to give nonprofit organizations advance notice if their 501(c)(3) status is in jeopardy. You may recall that ACR wrote a letter of support for the Coats bill last June.

Finance Committee Chairman Orrin Hatch (R-UT) said he plans to hold similar markups “in the near future,” though he has not identified another block of bills to advance in the same way. Hatch also noted that any bill the committee would take up in this context must “have bipartisan support and be non-controversial to both sides.” 


Tax Reform Talk Continues

On February 13, House Ways and Means Committee Chairman Paul Ryan (R-WI) told reporters that tax reform must be “done by summer,” otherwise it will be difficult to move. He also said he favors comprehensive tax reform over business-only reform, but added that he is “open” to doing it in phases. According to Ryan, business tax reform could be the bulk of “phase one” of the process, and “phase two” could be to “finish the job of comprehensive tax reform” further down the road.

Across the Capitol, a spokeswoman for Chairman Hatch said that the committee is continuing to look at tax reform through the small working groups unveiled last month. The working groups are expected to begin holding roundtables in mid-April. Chairman Hatch said recently that he believes “there is real momentum to get something done on tax reform this year if we remain committed…And, believe me, I’m committed.”  He added that the committee will begin tax reform efforts with the business side of the code: “We’re going to go forward with [tax reform], but we’re going to start on the business tax [side] first since [the President] requested that,” he said. He did not provide an exact timeline for action.

Lastly, the Senate Finance Committee held a hearing on February 10 featuring former Chairman Bob Packwood (R-OR) and former committee member Bill Bradley (D-NJ) to discuss lessons Congress can learn from the comprehensive Tax Reform Act of 1986. Both Packwood and Bradley attributed their success to a commitment towards bipartisanship and the pursuit of comprehensive reform as opposed to strictly corporate tax reform. They also stressed the importance of leadership from the White House.


ACR Summit

You are invited to the sixth annual ACR Summit for Leaders.

With so many tax issues still to be debated, nothing is completely on or off the table. Now is not the time for the philanthropic community to stay on the sidelines. We hope you will join us at the 2015 ACR Summit for Leaders to learn what we can do to protect private giving and educate lawmakers about the critical role of charitable organizations in a free society.

Registration: To register for the ACR Summit as well as other events during Philanthropy Week in Washington, click here. Attendance is free.


Consider This: What is the end game?

Washington is officially exhausted after having Congress in town for the last six weeks. What does Congress have to show for it?

In the tax world, there has been an excess of activity without clear and coordinated goals over the last month and a half. The House has been passing bills making various tax provisions permanent, but those bills aren’t likely to be taken up by the Senate. Meanwhile, House Republican Ways and Means members had a retreat to talk about taxes in general and tax reform specifically. As far as we can tell, they did not really return with a plan. 

On the Senate side, the Finance Committee is plowing ahead on tax reform. The committee has divvied up the work into five areas and is hoping to make recommendations by Memorial Day. In a hearing last week, two of the key architects of the last big tax reform effort in 1986, Senators Packwood (R-OR) and Bradley (D-NJ) testified. When asked what is really needed to get tax reform across the finish line, Senator Packwood said a President that leans in to the effort. Senator Bradley told the committee that if the members cannot come to some agreement on raising or not raising revenue, they are never going to get anywhere and should spend their time doing something else. If those two things are true, the committee may be working toward, but never really getting to, the desired end result of reform. All signs point to reform not being high on the President’s list of priorities and there is no real agreement on whether tax reform should or should not be revenue neutral.

We don’t really know how all of this will shake out. With Republicans in control of both the House and Senate, we thought we’d see a little more coordination on the tax front. We certainly think they feel pressure to get something done to prove they’ve earned their majority. All of that may still come to pass. However, for now the end game is murky. We expect a clearer sense of where all of this is going by Memorial Day and we will be sure to keep you updated.


Top Reads


Please feel free to email us at info@acreform.com if you have any questions, stories or topics you would like us to include in our newsletter.


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