BNA: Passthrough Gaming Solution Eludes GOP as Tax Bill Release Nears

I spoke to Laura Davison from Bloomberg BNA about the GOP effort to craft a workable solution to provide the tax cuts to pass-through businesses that the framework calls for:

Considering how much a company pays in wages is a broader measure of the value of the business than just counting machinery and land, Liam Donovan, a lobbyist with Bracewell LLP, said. That could be one way of determining profits versus wages. The trick is also targeting enforcement on situations where there is more opportunity for abuse, such as family businesses where people have control over the company and their compensation levels, he said.

“70-30 is a non-starter for a lot of groups. That would be the quickest way to hit a snag in this plan,” Donovan said. “Congress is put in a tough spot of finding the least-bad solution.”

Read the full piece here.

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