No matter who wins the elections for President, U.S. Senate, and U.S. House this year, we believe that comprehensive tax reform will be a high priority in the next Congress.If Donald Trump is elected, he likely will have a Republican Senate and House. Leaders in both chambers who want to pursue tax reform. In fact, Republicans on the House Ways and Means Committee are drafting a bill this fall that will serve as their starting point for negotiations next year. Mr. Trump would make tax reform a top priority and likely give Congress leeway in writing the details.If Hillary Clinton wins, the Senate may switch to Democratic control. But, she will still have to deal with a GOP House majority. One of Secretary Clinton's highest priorities will be to take action to get the economy growing more quickly and achieve a bipartisan victory on a major issue during her first year. A lot of painstaking work and compromise would have to be done, but she likely will make a major effort to achieve tax reform next year.We believe the momentum will be behind comprehensive tax reform. All interested parties should shift their efforts into high gear after Labor Day.
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