ATR president Grover Norquist was a guest today on Mornings with Maria on the Fox Business Network to discuss tax reform. He said:
The big story over time is how Trump’s plan and the House Republican plan – Chairman Brady and Paul Ryan – have come together. Remember, Trump started at 15% — the corporate rate – and the Republican plan started at 25%. When they updated it they moved it to 20% towards where Trump was. Trump’s was the only Republican plan, of all the 1500 Republican candidates for president, he was the only one who didn’t include full expensing for business investment in his first plan. Second plan, he joined with the House in going to full expensing for business. So rather than long depreciation schedules, you expense it the first year. Very powerful pro-growth tool. So on both of the drivers of growth, full expensing and a lower corporate rate, the Trump plan and the House Republican plan have moved towards each other in the right direction.
The full video can be found here