Tax Reform Plan Released by White House, Treasury

Posted by accountingweb on Feb 22 2012 711 printer friendly

The President's Framework for Business Tax Reform, (the 'Framework') released earlier today by the White House and the U.S. Treasury Department, focuses on five elements. The jist of the proposal, as framed in the title of Treasury's press release, is that the Framework would 'Enhance America's Competitiveness...' by "Simplify[ing] the Tax Code, Eliminat[ing] Dozens of Tax Loopholes and Subsidies, and Incentiviz[ing] Job Creation [and] Investment at Home." See also the related Statement issued by President Barack Obama, and the related Remarks of U.S. Treasury Secretary Tim Geithner.

Read key points from the Framework, additional points of interest to financial executives, and a related statement by FEI President and CEO Marie Hollein in response to the administration's tax reform plan.

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