Trump Team Sets its Eyes on Tax Code Reform

U.S. President Donald Trump listens to questions from the media as he meets with Colombia's President Juan Manuel Santos (not pictured) in the Oval Office in Washington, DC, U.S., May 18, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump listens to questions from the media as he meets with Colombia's President Juan Manuel Santos (not pictured) in the Oval Office in Washington, DC, U.S., May 18, 2017. REUTERS/Kevin Lamarque

U.S. President Donald Trump listens to questions from the media as he meets with Colombia's President Juan Manuel Santos (not pictured) in the Oval Office in Washington, DC, U.S., May 18, 2017. REUTERS/Kevin Lamarque
U.S. President Donald Trump listens to questions from the media as he meets with Colombia’s President Juan Manuel Santos (not pictured) in the Oval Office in Washington, DC, U.S., May 18, 2017. REUTERS/Kevin Lamarque

WASHINGTON – Despite the fact health care reform still remains up in the air, it seems as though many in the Trump team are looking ahead and setting their sights on tax code reform. Tax code reform was a cornerstone of the Trump campaign and something that Trump himself has been very excited to tackle. Reports are that the White House has learned a number of lessons from how the health care reform has gone and intends to use those letters to approach tax code reform in a much more pulled together manner.

Taking a Different Approach with Tax Code Reform

The fate of health care reform is literally hanging in balance at the moment and during this experience, the White House has gone through a number of situations and public embarrassments. Reports are that the Trump administration is working hard to be more coordinated and much more prepared for its tax code reform efforts so as not to repeat the same mistakes. Trump is in desperate need of a big win, and pushing through tax code reform could definitely be the big win he is after.

Meetings and Planning Already Underway

It seems as though the White House is going all out and has been busy contacting and working with a number of high-level organization and planning efforts so that the tax code reform goes off without a hitch. While most of the country is still embroiled in health care debate, the administration has been busy holding meetings with business leaders and activists in order to lay the path.

It’s said that the President’s press team is also busy working on a polished communications strategy when it comes time to discuss tax reforms.

Many investors and large companies are anticipating cuts in corporate tax rates by as early as the end of this year. It seems as though the administration is well aware of these expectations and in turn has put together its team to start making these expectations a reality.

Trump Continues to Be His Own Worst Enemy

Of course, with all these big goals ahead there is still the fact that Trump continues to be his own worst enemy. Sources inside the White House have commented that it is in fact “paralyzed” at the moment. Russian stories continue to heat up and cloud the waters, making Trump’s campaign promises harder and harder to accomplish.

Interesting Times for Those in the Industry

While much focus is placed on how these tax code reforms will affect everyday people and businesses, it’s also making for interesting times for those who work in the industry of tax code and tax law. For any student currently enrolled or soon-to-be enrolled in an online master of science in taxation, all eyes are on the administration and its plans. Serious reform means students in an online master in taxation program need to be aware and well-versed in these changes.

It seems as though it’s not just the country that is eagerly awaiting how tax reform will go but also big businesses and professionals in the industry, too.