Brady and Ryan met this month with employees at companies including Intel Corp., Boeing Co. and AT&T Inc. They rehashed lines they’ve used since January: They want to simplify the code so Americans can file returns on postcards. Tax overhauls are rare and difficult; the last one happened in 1986 when Ryan got his driver’s license.
Treyz said the best-case scenario is that Republicans will pass legislation in late 2017 that expands existing tax perks, like the earned income tax credit and the child tax credit. Proposals to slash rates will run into budgetary problems, and efforts to end deductions will draw a lobbying blitz, making them too painful for many Republicans to support.
“I just see pitfalls everywhere,” she said. “Potholes and sinkholes.”
This article was provided by Bloomberg News.