With Republicans about to be in control of both Congress and the Administration next year, comprehensive tax reform is very high on the agenda for 2017 – both for President-elect Trump and the leadership of the incoming Congress.
When 2017 begins, it is quite likely that the first tax reform vehicle that will be considered will be the House Republican Blueprint that was released earlier this year and is expected to be updated early next year with more far detail and specificity than we have seen so far.
Notably, President-elect Trump’s vision for tax reform as it evolved during the campaign was largely based on the Blueprint with some key differences.
The Blueprint is likely the beginning move in a very complicated process and is open to change, driven in part by constructive comments from various constituencies and in part by fierce opposition from a variety of interests.
In addition, the views of the incoming Trump Administration may be different than campaign documents suggest and the Senate has not yet weighed into the matter and may not for some time. Simply put, there remains a wide range of potential outcomes for tax reform in 2017.
NAREIT has long supported Congressional efforts to review and improve the tax code. As the tax reform journey begins in earnest next year, NAREIT will remain actively engaged with policymakers to address any potential implications for REITs and real estate investment generally.
STATUS: Legislation has yet to be introduced.
- National Real Estate Organizations Letter to the House Stating Tax Reform Principles - 12/13/16
- NAREIT’s Summary of the House Tax Reform Blueprint - 6/27/16
- Speaker Ryan's Tax Reform Blueprint - 6/24/16
- NAREIT Alert on the Tax Extenders Package - 12/18/15
- Statutory Language of FIRPTA and REIT-related Sections of Two-Year Extenders Package - 12/15/15
- NAREIT Alert on Chairman Brady’s Two-Year Extenders Amendment - 12/8/15
- Real Estate Industy - SFC Working Groups Comment Letter - 4/15/15
- NAREIT SFC Working Groups Submission Letter - 4/15/15
- NAREIT's Submission to the Senate Committee on Finance International Tax Reform Working Group - 4/15/15
- REIT.com interviews House Ways and Means Committee Lead Advisor on Tax Reform Ray Beeman - 5/2/14
- NAREIT Policy Report on Chairman Camp’s Tax Reform Discussion Draft - 3/6/14
- NAREIT comments on the Cost Recovery and Tax Accounting Rules Included in the Senate Finance Committee Staff Discussion Draft - 1/17/14
- NAREIT Comments on the International Business Tax Reform Staff Discussion Draft - 1/17/14
- National Real Estate Organizations' Submission Regarding the Senate Finance Committee Cost Recovery Discussion Draft - 1/16/14
- NAREIT Submission on the House Ways and Mean Committee's International Tax Discussion Draft -5/31/13
- NAREIT Submission on the House Ways and Means Committee's Small Business/Passthroughs Discussion Draft - 5/15/13
- NAREIT letter to House Ways and Means Committee on Tax Reform - 4/15/13
- House Ways and Means Chairman Dave Camp Releases Tax Reform Discussion Draft for Small Business and Passthrough Entities (Does Not Address REITs or Mutual Funds) - 3/13/2013
- The Congressional Research Service's Report on Corporate Tax Reform: Issues for Congress – 12/26/12
- The Congressional Research Service's Report on The Corporate Income Tax System: Overview and Options for Reform - 9/13/12
- NAREIT First Brief: President Obama's Framework for Business Tax Reform Released - 2/22/12
- Joint Report by the White House and the Treasury Department on Business Tax Reform - 2/22/12
- The Congressional Research Service's Report on Tax Reform: An Overview of Proposals in the 112th Congress - 12/9/11
- The Joint Committee on Taxation's Testimony Before the Joint Select Committee on Deficit Reduction - 9/22/11
- The Congressional Research Service's Report on Reducing the Budget Deficit: Tax Policy Options - 8/8/11
- The Joint Committee on Taxation's Study on Debt and Equity: Present Law and Background Relating to Tax Treatment of Business Debt - 7/11/11
- The Joint Committee on Taxation's Study on Selected Business Tax Provisions - 6/2/11
- The Joint Committee on Taxation's Report on Federal Tax System Law and History - 1/2/11
- The President's Export Council's Letter of Recommendation to the President of the United States concerning Tax Reform - 12/9/10
- The National Commission on Fiscal Responsibility and Reform's Report: Moment of Truth - 12/10
- The Peterson-Pew Commission on Budget Reform's Report: Getting Back in the Black- 11/10
- The Bipartisan Policy Center Debt Reduction Task Force's Report on Restoring America's Future: Reviving the Economy, Cutting Spending and Debt, and Creating a Simple, Pro-Growth Tax System - 11/16/10
- NAREIT Policy Report: Presidential Advisory Panel Releases Report with Tax Reform Options - Some Options Offered of Interest to Real Estate and REITs - 9/2/10
- President's Economic Recovery Advisory Board (PERAB) Report on Tax Reform Options: Simplification, Compliance, and Corporate Taxation - 8/27/10
- Washington Council Ernst & Young Legislative Alert: Comparing Tax Proposals of the Presidential Candidates - 9/10/08
- Approaches to Improve the Competitiveness of the U.S. Business Tax System for the 21st Century (Prepared by the Office of Tax Policy, U.S. Department of the Treasury) - 12/20/07
- Present Law and Background Relating to Selected Business Tax Issues (Prepared by the Staff of the Joint Committee on Taxation) - 9/19/06
- Present Law and Background Relating to Corporate Tax Reform: Issues of Conforming Book and Tax Income and Capitol Cost Recovery (Prepared by the Staff of the Joint Committee on Taxation) - 5/8/06
- National Policy Bulletin - Bush Advisory Panel on Federal Tax Reform Releases Two Tax Reform Recommendations: the Simplified Income Tax Option and the Growth and Investment Tax Plan - 11/11/05
- Final Report of President Bush's Advisory Panel on Federal Tax Reform - 11/1/05
- Taxing Capital Income: Effective Rates and Approaches to Reform (Congressional Budget Office Paper) - 10/05
- Options to Improve Tax Compliance and Reform Tax Expenditures (Prepared by the Staff of the Joint Committee on Taxation) - 1/27/05
- President Bush Establishes Advisory Panel on Federal Tax Reform - 1/7/05
- Comparison of Certain Provisions of H.R. 4520 as Passed by the House of Representatives and as Amended by the Senate: Provisions Relating to International Tax Reform and Simplification for United States Businesses (Prepared by the Staff of the Joint Committee on Taxation) - 9/29/04
- Study of the Overall State of the Federal Tax System and Recommendations for Simplification, Pursuant to Secton 8022(3)(B) of the Internal Revenue Code of 1936 - Volume I: Study of the Overall State of the Federal Tax System - 4/01
- Study of the Overall State of the Federal Tax System and Recommendations for Simplification, Pursuant to Secton 8022(3)(B) of the Internal Revenue Code of 1936 - Volume II: Recommendations of the Staff of the Joint Committee on Taxation to Simplify the Federal Tax System - 4/01
- Report to The Congress on Depreciation Recovery Periods and Methods (U.S. Department of the Treasury) - 7/00
- Report of the U.S. Department of the Treasury on Integration of the Individual and Corporate Tax Systems - 1/92
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