Tax Reform Not Likely Until 2018, Says Michael Zezas

The video discusses a U.S. policy plan, its potential impacts on business, markets, and the economy, and the likelihood of its implementation. The timeline is expected to extend beyond initial Republican estimates. Financial implications include a significant deficit, requiring moderation of the plan. A key issue is the state and local tax deduction, affecting both Democrats and Republicans. Alternatives like tax credits and deductions are considered, with potential impacts on constituents.

What is the primary focus of Michael's comprehensive notes?

• The historical context of U.S. policy strategies

• The impact of the plan on international relations

• The role of technology in modern policy-making

• The effects of the plan on business, markets, and the economy

What is a major issue with the plan's framework as discussed in the second section?

• It proposes excessive tax increases

• It focuses too much on international trade

• It does not identify sufficient funding sources

• It lacks a clear timeline for implementation

How much deficit has the Senate agreed to accommodate according to the discussion?

• $1.5 trillion

• $1 trillion

• $2 trillion

• $5 trillion

What is one potential solution for the state and local tax deduction issue?

• Eliminating all deductions

• Increasing federal subsidies

• Introducing a tax credit or income phaseout

• Implementing a flat tax rate

Why is the state and local tax deduction issue significant for blue state Republicans?

• It could lead to a decrease in federal funding

• It may lead to increased political donations

• It might result in a tax increase for their constituents

• It could cause a shift in party allegiance