Tax

Trump administration officials and congressional Republican leaders are promising a new framework in two weeks for legislation that would overhaul the U.S. tax code—though they’ve shied away from releasing any details about how the changes would affect individuals or corporations.

The Treasury Secretary floated the idea of not giving accountants the same tax cuts that companies like manufacturers would get under the Trump administration’s tax reform plan.

Three Democratic senators joined the president as he aimed to win their support for an as-yet unreleased tax plan that would be written by Republican leaders.

The president said this year’s deadly hurricanes add urgency to his tax-cut plan.

Kevin Brady, the chief House tax writer, told the chamber’s Republicans that White House leaders and congressional leaders working on a tax plan will release a framework the week of Sept. 25.

More than three-quarters of directors at public companies polled by BDO USA expect a tax overhaul to be achieved before the end of Trump’s term in office, but only 22 percent anticipate it will happen before the end of this year.

The Internal Revenue Service streamlined the rules to make it easier for 401(k)s and similar employer-sponsored retirement plans to make loans and hardship distributions to storm victims and members of their families.

Victims in parts of Florida and other areas have until Jan. 31, 2018, to file some individual and business tax returns and make certain tax payments.

It may not be possible for the president to deliver on his promise to lower the highest bracket as much as promised.

The president is planning an aggressive travel schedule, taking him to as many as 13 states over the next seven weeks.