US tax reform effort moves to centre stage

Now that the effort to repeal and replace Obamacare has failed both the White House and the Republicans in Congress badly need a legislative ‘win’ that President Trump can sign into law. The big question is whether the effort to reform the US tax code will be that victory. And the answer to that question depends in large part on whether the Congressional Republicans can manoeuver a tax reform bill through a brutal fall legislative calendar full of potential landmines. If they cannot do that enactment of tax reform will be delayed until at least 2018 (and because 2018 is a midterm election year perhaps even later).

The White House and Congressional Republicans need a legislative success

On 27 July after...