A Recent History of Tax Reform: It Doesn't Always Go As Planned
Fall isn't just about the trees changing color and pumpkin-spiced lattes this year. Major changes are potentially afoot in Washington.
On Thursday, Nov. 2, House Republicans are set to unveil what could be the most comprehensive tax reform effort we've seen in a long time. Based on a campaign pledge from President Trump to lower taxes for consumers and corporations alike, the GOP bill should feature a simplification of the individual tax code, along with a marginal tax-rate drop for middle-class Americans, as well as a major cut to the corporate income-tax rate, which currently peaks at 35%.
While tax reforms proposals may sound great on paper, they're not always a slam-dunk. Some work as planned, while other proposals fall flat on their face and fail to become law. Below are five such instances of congressional tax reform efforts in recent years and how they eventually panned out.
Source: Fool.com
