Gardere partner James Howard, chair of the firm’s tax practice group, spoke with Law360 about the House Budget Committee’s recent release of a fiscal 2018 plan to find savings from federal programs to fund tax reform. According to the publication, experts say that the spending cuts to politically sensitive programs, such as food stamps, may make tax reform a distant dream.
“When they say tax reform, that is so broad. What do they mean?” Howard said. “No one’s come forward with a plan that makes economic sense. At the end of the day, the budgetary process in taxes is that if they want to spend X dollars, they’ve either got to raise X dollars or create a deficit. Fortunately or unfortunately, it’s not rocket science.”
Subscribers can access the full article here.