President Trump, working with a group of six administration officials and Republican leaders from Congress (the “Big Six”), announced a 9-page framework for tax cuts on September 27 (the “Framework”), marking the most significant development since the administration’s unveiling of its tax reform outline April 26. Accompanied by a speech in Indiana from President Trump, the Framework capitalizes on many ideas previously endorsed in the President’s Tax Outline and in the House Republican Blueprint. The Framework will still require tremendous work by the Congressional tax writing committees to flesh out the concepts, but it gives us the latest thinking on where tax reform may go.
