Grover Norquist on Tax Reform Under Trump

The video discusses potential tax rate reductions, focusing on corporate and passthrough entities. The White House aims for a 15% corporate tax rate, with expectations between 15-20%. Subchapter S and partnership taxes may drop from 40-44% to 15-20%. The plan must be deficit neutral over 11-50 years, not just the first ten. Dynamic scoring will be used to predict future revenues, and some tax cuts may be temporary but could become permanent, as seen with the R&D tax credit.

What is the target corporate tax rate mentioned in the text?

What are the expected changes to the subchapter S passthrough partnership tax rates?

Explain the difference between deficit neutral and revenue neutral as discussed in the text.

How does the text suggest that tax cuts will be made to fit within the budget?

What role does the CBO play in the context of the tax policy discussed?