President Trump's Tax Proposal: Will the Race to Tax Reform be a Marathon or a Sprint?

President Trump’s recently released “core principles” for tax reform and simplification initiates the beginning of what is sure to be a heated debate over the future of U.S. tax policy. The announcement was short on policy details and far from enacted legislation. Also, the legislative process is complex and slow, particularly for tax legislation. The few details that were provided in the administration’s announcement have the effect of moving the Trump plan closer to the House Republican Plan, known as “A Better Way.”