Tax Reform in America: The Six-Month Report
June 2018 marked six months since President Trump signed tax reform into law. On Tuesday, June 26, Washington Post reporters interviewed Kevin Hassett, President Trump’s director of the Council of Economic Advisers, Rep. Kevin Brady (R-Tex.), chairman of the House Ways and Means Committee, business leaders and policy experts to evaluate the legislation’s impact on businesses, individuals and the overall economy. Speakers also discussed how companies are investing their tax-cut savings, where tax reform goes from here and how the issue may impact the 2018 midterm elections.
A View from the Administration
The head of President Trump’s Council of Economic Advisers offers an assessment of whether tax reform is delivering on its promises and where tax reform goes from here.
Kevin Hassett, the head of President Trump’s Council of Economic Advisers discusses whether tax reform is delivering on its promises and where tax reform goes from here.
Council of Economic Advisers Chairman Kevin Hassett tells The Washington Post's Damian Paletta that "the deficit is skyrocketing but it's not a legacy of the tax law, it's a legacy of the spending deal."
Council of Economic Advisers Chairman Kevin Hassett responds to escalating fears over a possible trade war and comments on Harley-Davidson's decision to move some production overseas.
Council of Economic Advisers Chairman Kevin Hassett says President Trump's recent tweets about the monthly U.S. jobs numbers before they were released “was not a violation of protocol” but acknowledged: “I agree with those who say its probably best if we not be tweeting an hour before data comes out."
Council of Economic Advisers Chairman Kevin Hassett describes his view that the new tax law will increase wages for American workers.
Kevin Hassett
Chairman, Council of Economic Advisers
Kevin Hassett was confirmed by the U.S. Senate on September 12th and sworn in as the 29th Chairman of the Council of Economic Advisers (CEA) on September 13, 2017. Prior to becoming Chairman of the CEA, he was an economist at the American Enterprise Institute since 1997. His most recent titles at the American Enterprise Institute (AEI) included James Q. Wilson Chair in American Culture and Politics and Director of Research for Domestic Policy. He also served as Director of Economic Policy Studies and Resident Scholar from 2003 through 2014.
Interviewed by Damian Paletta
Damian Paletta is a White House economic policy reporter for The Washington Post.
The Business of Tax Reform
Senior leaders from the business and labor communities discuss tax reform’s effect on the corporate and manufacturing sectors as well as on American workers.
Senior leaders from the business and labor communities evaluate tax reform’s effect on the corporate and manufacturing sectors as well as on American workers.
Caroline L. Harris, Vice President of Tax Policy and Economic Development and Chief Tax Policy Counsel at the U.S. Chamber of Commerce, says that a trade war would roll back any positive impacts of the new tax reform policy.
Senior leaders from the business and labor communities discuss what they would like to see in "phase two" of tax reform.
Aric Newhouse, Senior Vice President of Policy and Government Relations at the National Association of Manufacturers, describes the tax law from the perspective of manufacturers, noting an increase in optimism among workers. However, Communications Workers of America President Christopher Shelton disagreed, saying, "workers are feeling quite left out."
Senior Fellow at the Center for American Progress, Seth Hanlon, discusses his view of the tax law saying that he sees no wage growth and no increased investment, as promised.
Seth Hanlon
Senior Fellow, Center for American Progress; former Special Assistant to the President for Economic Policy, National Economic Council (2015-2017)
Seth Hanlon is a senior fellow at American Progress, where he focuses on federal tax and budget policy. Prior to rejoining American Progress, he served as special assistant to the president for economic policy at the White House National Economic Council, where he coordinated the Obama administration’s tax policy. He has also served as senior tax counsel for the House Budget Committee Democratic staff.
Caroline L. Harris
Vice President, Tax Policy and Economic Development; Chief Tax Policy Counsel, U.S. Chamber of Commerce
Caroline L. Harris is vice president, tax policy and economic development, and chief tax policy counsel at the U.S. Chamber of Commerce. She directs the development, promotion, and publication of the Chamber’s policy on tax-related matters. Additionally, she works with other Chamber policy centers in their efforts to advance specific policies to improve economic growth.
Aric Newhouse
Senior Vice President for Policy and Government Relations, National Association of Manufacturers
Aric Newhouse is the senior vice president of policy and government relations at the National Association of Manufacturers (NAM). In addition to serving as the NAM’s lead government relations staff member, he is responsible for the development and implementation of the NAM’s broad policy agenda. Newhouse joined the NAM in 2007 after more than 11 years of service on Capitol Hill.
Christopher Shelton
President, Communications Workers of America
Christopher Shelton was elected president of the Communications Workers of America by acclamation by delegates to the union’s 75th convention on June 8, 2015. Prior to his election as president, Shelton served as vice president of CWA District 1, representing 160,000 members in more than 300 CWA locals in New Jersey, New York and New England. Shelton started his union career when he went to work for New York Telephone in 1968 as an outside technician.
Moderated by Libby Casey
Libby Casey is a politics and accountability anchor for The Washington Post.
The View from the Chairman
The chairman of the House Ways and Means Committee offers an assessment of the political and policy outlook for phase two of tax reform.
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) assesses the political and policy outlook for phase two of tax reform.
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) discusses possible economic impacts of President Trump's immigration policy saying he supports an “all-of-the-above strategy."
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) outlines a timetable for "phase two" of tax reform saying that he expects "to see a legislative outline released in early August, with votes in the fall."
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) comments on possible threats of a trade war. Brady says in his state of Texas, for example, he sees uncertainty with local manufacturers and in the energy industry.
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) discusses the new, postcard-size income tax form 1040, calling it a "simpler and better way to file."
House Ways and Means Committee Chairman Rep. Kevin Brady (R-Tex.) shares his view of the relationship between the Republican Party and President Donald Trump.
Kevin Brady (R-Tex.)
Chairman, U.S. House of Representatives Committee on Ways and Means
Kevin is Chairman of the House Ways and Means Committee - - considered by many to be the most powerful committee in Congress with jurisdiction over taxes, health care, Social Security, Medicare, international trade and welfare. Brady's focus is creating jobs, reducing Washington spending and sunsetting obsolete federal agencies. He previously served as chairman of the Health Subcommittee for the House Ways and Means Committee.
Interviewed by Robert Costa
Robert Costa is a national political reporter for The Washington Post.
Content from PwC
Leaders from PwC discuss how companies have invested and plan to invest their tax reform savings, including why PwC recommends businesses spend their new surplus cash in areas that can lead to growth, such as strategic acquisitions or differentiating capabilities.
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