Among the key initiatives scheduled to be taken up by Congress and the executive branch this year is tax reform.
While most people have been in favor of making the US tax code "better," it has been a very difficult task to accomplish.
In fact, the last significant tax reform package passed at the Federal level was in 1986, during the Reagan administration, with bipartisan support. (The Tax Reform Act of 1986 lowered the top tax rate from 50% to 28% and raised the lowest tax bracket from 11% to 15%. The number of individual tax brackets was eventually reduced to two, and many deductions were eliminated. Corporate tax rates were reduced from 46% to 34%.)
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
