CCH Tax Day Report
The Trump administration is expected to release the outline of its federal budget proposals on March 16. The outline, sometimes referred to as a “skinny budget,” will likely describe some spending priorities and cuts.
The budget outline may also include a proposed budget for the IRS and a preview of the Trump administration’s infrastructure plans. There has been some discussion that Trump will address infrastructure in a separate package outside of the budget.
There was talk in February that the skinny budget may contain some tax proposals, but a statement by the Office of Management and Budget (OMB) Director Mick Mulvaney on February 28 indicated otherwise (TAXDAY, 2017/02/28, W.1). According to Mulvaney, tax policy items will likely be included in the full budget instead, expected to be released in May.
By Jessica Jeane, Wolters Kluwer News Staff