Reading the Tea Leaves on Trump Tax Reform

In a recent speech, President Trump did not provide much detail in regard to the tax reform proposals that are expected soon, or his particular desires. Nonetheless, he did drop hints as to some aspects of reform:

a. He has continued his call for a 15% business tax rate, so as to improve U.S. tax competitiveness;

b. He also is looking for ways to bring back non-U.S. profits on a more favorable basis; and

c. He is looking for some measure of relief for middle-income americans, including helping parents afford childcare and the cost of raising a family.