Some people might have questions about the impact that federal tax reform will have on state and local governments. The president, along with congress, are trying to reform taxes, in order to create more jobs and to help with domestic investments in manufacturing and other industries. There are a lot of concerns people have about it though.

Key Takeaways:

  • Donald Trump and Congress are committed to undertaking comprehensive federal tax reform this year to spur job growth.
  • State and local officials, however, are approaching these statements with caution.
  • They are concerned that federal tax reform will shift the fiscal burden for providing public services and other government programs to states, cities and counties.

“While federal tax reform is expected later this year or early next year, its implementation is expected to be gradual over the next several years.”

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