House Bill, Sergio Leoni, Director discussed on The Brookings Cafeteria

Automatic TRANSCRIPT

Um but reform is generally a process that that uh doesn't just reduce rates but also broadens the base uh and there's not much of that in the final bill uh in the original house bill for instance they actually were uh aggressive in that they took on a lot of uh special provisions and special interests uh things like the student loan interest deduction um the that will conduct drug credit iin chipped away at o at a wide variety of uh tax expenditures and at each step in the process most of those uh base broadening changes uh dropped out and so the final bill uh really is just uh uh by and large attacks cutting guide especially weighted towards uh corporate businesses and passer businesses i'm there are some there are some elements that um i do do represent more fundamental changes uh but that's the the broad take away so let's let's proceed on the following lines for the rest of this conversation by invoking the the italian director sergio leoni and talk about what is good what is bad in what's ugly we're just plain weird in this tax bill so i ethic in any piece of legislation again setting side the politics of it any piece of legislation we're gonna find stuff we like itself we don't like it so if that makes sense stuff that makes sense so if you could um address first of all what our if any some good aspects of this of this new law i shor so i i think that there are um at the finer level of detail some improvements um so i think there is widespread agreement that we need to change a corporate tax system uh and uh i just about everybody uh all political parties had promising page in the sense that they thought that uh a a broadening of the base in a lowering of the corporate rate i was appropriate.

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