PWC's Kumar Says Tax Reform Must Hit Sweet Spot

The video discusses the complexities of tax reform, highlighting a mix of permanent and temporary measures. It explains the budget reconciliation process, which allows passing reforms without a filibuster but requires deficit neutrality in the long run. The discussion includes potential economic impacts, with some experts skeptical about the benefits. The video also explores the balance between temporary relief and permanent changes, using the Bush tax cuts as an example. Finally, it emphasizes finding a 'sweet spot' in reform size to ensure both effectiveness and passability.

What is meant by 'temporary relief' in the context of tax reform?

What challenges are associated with finding a 'sweet spot' in tax reform?