Daily Tax Update - February 9, 2017: Trump Administration to Release Tax Overhaul

Trump Administration to Release Tax Overhaul:  Today in a meeting with airline CEOs, President Trump said the White House will make an announcement in the next two to three weeks regarding tax, but did not provide any further details.  The White House press secretary later indicated that the administration would release an outline of a “comprehensive plan” in the next few weeks and would use budget reconciliation to pass tax reform. 

Lawsuit Filed Against President Trump Over Two-for-One Executive Order on Regulations:  On February 8, Public Citizen, the Natural Resources Defense Council, and the Communications Workers of America filed suit in the US District Court for the District of Columbia seeking declaratory and injunctive relief with regard to the Executive Order on “Reducing Regulation and Controlling Regulatory Costs,” issued by President Trump on January 30, and interim guidance issued by the Office of Management and Budget on February 2.  The complaint alleges that the Executive Order exceeds President Trump’s constitutional authority, violates the Administrative Procedure Act, and requires agencies to arbitrarily repeal regulations to enact new regulations.  Previous DTU coverage of the two-for-one Executive Order can be found here.