Jan 30, 2018

Tax Policy Update


Photo: Win McNamee/Getty Images

Safe, Strong, and Proud. President Donald Trump will deliver his first State of the Union this evening at 9 p.m. ET. The theme of the address will be on building a safe, strong, and proud America. Trump is expected to offer more details on the White House’s immigration plan, which would provide a path to citizenship for up to 1.8 million Dreamers; significantly reduce legal immigration to the U.S.; and establish a $25 billion trust fund for border security.

Infrastructure investment will be the other big topic. In a draft proposal leaked last week, the administration calls for investments by state, local, and private entities and an expansion of Private Activity Bonds, among other things, to help modernize the country’s bridges, roads, and public transit system.

As with his previous address to Congress, Trump will appeal for bipartisanship while putting pressure on lawmakers to get these two priorities done this year.

In addition, the State of the Union will give Trump an opportunity to take a victory lap for the country’s strong economic performance. Look for the president to give himself an A+ on the stock market and job creation. The president is also expected to highlight the immediate successes of the GOP’s new tax law, which have resulted in bonuses for workers and spurred domestic investments by U.S. corporations.

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The McGuireWoods’ Tax & Financial Services Policy Group assists clients in understanding how the latest legislative and regulatory proposals and decisions may impact their business and industry. To learn more about how our team can help you monitor, analyze, and navigate all relevant legislative and regulatory developments, please contact any of our attorneys and consultants below at (202) 857-1700. For more information on how to subscribe to our weekly Tax Policy Update and tax news alerts, please contact Radha Mohan, , (202) 857-2944.

Russell Sullivan

Rosemary Becchi

Harold Hancock

Charlie Iovino
Vice President

Assistant Vice President 

Radha Mohan
Assistant Vice President 

Anne C. Starke
Research Associate

Daniel Chung