David Rosenbloom Comments on Proposed Tax Cuts
The Senate Budget Committee released their 2018 budget proposal on Friday, opening the door for a $1.5 trillion tax cut over the next decade.
The proposal, which covers fiscal 2018 starting Oct. 1, sets the stage for Republicans to pass tax legislation they've been promising all year. The budget is a key step in laying out the reconciliation process that would allow the GOP to pass a tax bill with a simple majority and skirt Democratic opposition.
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"This is a series of what we used to refer to as 'BOGSAT' proposals. Bunch of guys sitting around a table," said H. David Rosenbloom, tax attorney at Caplin & Drysdale and director of the International Tax Program at the New York University School of Law.
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Excerpt taken from the article “Senate Budget Paves Way for $1.5 Trillion in Tax Cuts” by Emily Stewart for TheStreet.com.