Phase Two Trump Tax Cuts: Notes From Washington DC
This week as many in Washington DC are busy, but this week launching Phase Two of the Trump Tax Cuts is steaming full speed ahead.
Julio Gonzalez, CEO of Engineered Tax Services is proudly in our Nations Capital this week lending his expertise in the Tax industry.
The topic of Discussion: R&D Tax Credits
He will be meeting and holding discussions with key Senators on Capitol Hill regarding details on the extension and preservation of R&D Tax Credits program that helps United States economy grow.
Revise the TCJA provision currently set to change R&D tax deduction rules in 2022. Julio will be pushing for maintaining the existing law, allowing full R&D deductions in the year expenses are incurred.
Julio will be leading the discussions why these tax credits need to be extended in the future as they help support and strengthen the U.S. by investing in innovation.
Other Tax Reform Discussions In Washington
The centerpiece items up for discussion this week and Phase Two of the tax cuts are centered around making some these tax cuts from 2016 more permanent. Some individual items up include: streamlining and strengthing tax incentives for retirement saving and education to cutting capital gains taxes either through lowering rates or indexing capital gains to inflation.
Senators Leading The Legislation and Changes
Senator Kevin Brady (R-Texas) is heading up the efforts on tax incentives and retirement saving, why Senator Ted Cruz (R-Texas) and James Inhofe (R-Okla) are leading legislation on index capital gains as documented by the Hill.
Excited To Be In Washington DC
Like most Americans, Julio is excited about the real prospect of long-term tax reform and impact it will have on individuals workers to business owners nationwide. Julio is equally honored to be in Washington DC this week offering his insight and expertise on these significant economic issues facing our nation that tax reform can help solve.