RE: Jul calendar
From :

"Dunn, Brendan (McConnell)" <brendan _dunn@mcconnell .senate.gov>

To:

"Angus, Barbara" <barbara.angus@mail.house.gov>, "Callas, George"
<george.callas@mail.house.gov>, "Prater , Mark (Finance)" <mark_prater@finance.senate.gov>,
"Muzinich, Just in" <justin.muzinich@treasurv.Qov>,
·, "Kowalski,
Daniel" <daniel.kowalski@treasury.gov>,

Date :

Tue, 11 Jul 2017 15:08 :07 -0400

I have Strom reserved also.

Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader
From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov]

Sent : Tuesday, July 11, 2017 2:11 PM
To: Callas, George <George.Callas@mai l.house.gov>; Prater, Mark (Finance)
<Ma rk_Prater@fi na nee.sen ate.gov>; Justin .Mu zin ich@treasury.gov;
Dunn, Brendan (McConnell) <Brendan_Dunn@mcconnell.senate.gov>;
Daniel.Kowalski@treasury .gov;

Subject: RE: July calendar

Brendan said he reserved the same as yesterday for today' s meeting so we could scoot over there
after Principals.
-------- Original Message -------Subj ect: RE: July ca lendar
From: "Callas, George" <George.Callas@mail.house.gov >
Date: Jul 11, 2017, 1:58 PM
To: "'Prater, Mark (Finance)"'
<Mark Prater@finance.senate.gov >,"'Justin.M uzinich@trea sury.gov"'
<Justin.Muzinich@treasury.gov >,"Angus, Barbara"
<Barbara.Angus@mail.house.gov >,'
>,"'Dunn, Bren an (McConne )"'
<BrenanJ)unnmccate.gov
>,"'Daniel.Kowalski~treasurv.gov'"
~Daniel.Kowalski@treasury.gov 2, "'
>

From: Callas, George

Sent: Tuesday, July 11, 2017 1:49 PM
To: 'Prater, Mark (Finance)'; Justin.Muzinich@treasury.gov ; Angus, Barbara;
Dunn, Brendan (McConnell); Daniel.Kowalski@treasury.gov

;

Subject: RE: July calendar
Sorry if this was on me and I dropped the ball. Did we agree on a location for our staff meeting today
and tomorrow? Comms wants to join tomorrow.
From: Prater, Mark (Finance) [mailto:Mark

Prater@finance.senate.gov ]

Sent : Tuesday, July 11, 2017 1:29 PM
TREAS-17-0313-D-000001

 To: Justin.Muzinich@treasury.gov

: Angus, Barbara;
Dunn, Brendan (McConnell); Daniel.Kowalski@treasury.gov
Subject: RE: July calendar

:

Thanks.
From: Justin . Muzin ich@treasury.gov [mailto:Justin . Muzin ich@treasury.gov ]
Sent : Tuesday, July 11, 2017 1:21 PM
To: Barbara.Angus@mail.house.gov ;
; George.Callas@mail.house.gov ;

Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Dunn, Brendan (McConnell)
<Brendan Dun n@mcconne ll .senate.gov >; Daniel .Kowalsk i@treasury .gov;
Subject: RE: July calendar

Hi All - Spoke with Shahira. Please see revised agenda. Just flipped the order of items 1 and 2. No
new content. Thanks.
From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov
Sent: Tuesday, July 11, 2017 1:05 PM
To: Knight, Shahira E. EOP/WHO

]

>; Callas, George
<George.Callas@mail.house.gov >; Muzinich, Justin <Justin .Muzinich@treasury.gov >;
Mark Prater@finance.senate.gov ; Brendan Dunn@mcconnell.senate.gov ; Kowalski, Daniel
<Daniel.Kowalski@treasury.gov >; Koenig, Andrew D. EOP/WHO
Subject: Re: July calendar
Looks good. Thanks very much.
Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From : "Knight, Shahira E. EOP/WHO"
>
Date : Tuesday, July 11, 2017 at 12:39 PM
To: George Callas <George .Callas@mail.house .gov>, " 'Justin.Muzinich@treasury.gov

'"

<Justin.Muzinich@treasury.gov >, Mark Prater <Mark Prater@finance.senate.gov >,
" Brendan Dunn@mcconnell.senate.gov " <Brendan Du nn@mcconnelI.senate .gov >,
" Daniel .Kowalski@treasury.gov " <Daniel .Kawa lski@treasury.gov >, "Angus, Barbara"
<Barbara .Angus@mail .house .gov>, "Koenig, Andrew D. EOP/WHO"
Subject: RE: July calendar
Seeing that I've received no more comments, here is a final of the agenda for today.
From: Callas, George (mailto:George.Callas@mail.house.gov ]
Sent : Tuesday, July 11, 2017 11:56 AM
To: 'Justin. Mu zin ich@treasury.gov ' <Justin. M uzi n i ch@treasury.gov >;

Mark Prater@finance.senate.gov ; Brendan Dunn@mcconnell.senate.gov : Knight, Shahira E.
EOP/WHO
>; Daniel.Kowalski@treasury.gov : Angus, Barbara
<Barbara.Angus@mail.house.gov >; Koenig, Andrew D. EOP/WHO Subject: RE: July calendar
b(5)

From : Justin. Muzio ich@treasury.gov [mailto :Justin. Muzio ich@treasury.gov ]
Sent : Tuesday, July 11, 2017 11:55 AM

TREAS-17-0313-D-000002

 To: Callas, George; Mark Prater@finance.senate.gov ; Brendan Dunn@mcconnell.senate.gov
LDanie l.Kowalski@treasury.gov ; Angus, Barbara;

;

Subje ct: RE: July calendar

Subject: RE: July calendar
b(5)

From : Justin. Muzin ich@treasury .gov fmailto:Justin. Muzin ich@treasury .gov]

Sent : Tuesday, July 11, 2017 11:34 AM
To: Mark Prater@finance.senate.gov ; Brendan Dunn@mcconne ll.senate.gov ;
; Callas, George; Daniel.Kowalski@treasury.gov ; Angus, Barbara;

Subject: RE: July calendar

From : Prater, Mark (Finance) fmailto:Mark

Prater@finance.senate.gov ]

Sent : Tuesday, July 11, 2017 11:14 AM
To: Dunn, Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >; 'Knight, Shahira E.
EOP/WHO'
>; Callas, George <George .Callas@mail.house.gov >;
Kowalski, Daniel <Daniel.Kowalski@treasury.gov
>; M uzinich, Just in <Justin .Muz inich@treasury.gov
Angus, Barbara <Barbara .Angus@mail.house.gov >; Koenig, Andrew D. EOP/WHO

>;

Okie doke.
From : Dunn, Brendan (McConnell)

Sent : Tuesday, July 11, 2017 10:45 AM
To: 'Knight, Shahira E. EOP/WHO'
>; Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >; Callas, George <George.Callas@mail.house.gov >;
'Daniel .Kowa lski@treasury.gov ' <Daniel .Kowa lski@treasury.gov >; Justin .M uzi n ich@treasury.gov ;
Angus, Barbara <Barbara.Angus@mail.house.gov >; Koenig, Andrew D. EOP/WHO

>

Subje ct: RE: July calendar
Agreed

TREAS-17-0313-D-000003

 Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader
From : Knight, Shahira E. EOP/WHO mailto
Sent : Tuesday, July 11, 2017 10:41 AM
To: Prater, Mark (Finance) <Mark Prater@finance.senate .gov>; Callas, George
<George.Ca llas@mail.house.gov >; 'Daniel .Kowalski@treasury.gov ' <Daniel.Kowalski@treasurv.gov >;
Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnel l) <Brendan Dunn@mcconnell.senate.gov >; Koenig, Andrew D. EOP/WHO
>
Subject: RE: July calendar

Mark,
My understanding from yesterday's meeting is:

•

b(5)

•
Please let me know if others disagree.

From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent: Tuesday, July 11, 2017 10:05 AM
To: Callas, George <George.Callas@mai l.house.gov >; 'Daniel.Kowalski@treasury.gov '
<Daniel.Kowalski@treasury.gov >; Knight, Shahi ra E. EOP/WHO
Justin .Muz inich@treasury.gov ; Angus, Barba ra <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnel l) <Brendan Dunn@mcconnel l.senate.gov >; Koenig, Andrew D. EOP/WHO
,>
Subject: RE: July calendar

From : Callas, George (mailto:George.Callas@mail.house.gov ]
Se nt : Tuesday, July 11, 2017 9:54 AM
To: 'Daniel .Kowalski@treasury.gov ' <Daniel .Kowalski@treasury.gov >;
Justin.Muzinich@treasury.gov : Angus, Barbara <Barbara.Angus@mail.house.gov >; Prater, Mark
(Finance) <Mark_Prater@f inance.senate .gov >; Dunn, Brendan (McConnell)
<Brendan_Dunn@mcconne ll.senate.gov >;
Subject: RE: July calendar

b(5)

From : Dao iel ,Kawa lski@treasu ry,gav [mai lta:Da o iel ,Kawa lski@treasury .gov]
Se nt : Tuesday, July 11, 2017 9:50 AM
To:
Callas, George; Justjn.Muzioich@treasury .gov; Angus, Barbara;

TREAS-17-0313-D-000004

 Dun n@mccon n ell .senate .gov :
Subject : RE: July calendar
iL

••

b(5)

b(5)
b(S)

From : Knight, Shahira E. EOP/WHO mailto
Sent : Tuesday, July 11, 2017 9:47 AM
To: Callas, George <George.Callas@mail.house.gov >; Muzinich, Justin

<Justin .Muzinich@treasury.gov >; Angus, Barbara <Barbara .Angus@mail.house.gov >;
Mark Prater@finance.senate.gov ; Brendan Dunn@mcconnell.senate .gov : Koenig, Andrew D.
EOP/WHO
>
Cc: Kowalski, Danie l <Daniel.Kowalski@treasury .gov >
Subject: RE: July calendar
principals
From : Callas, George [mailto:George.Ca llas@mail.house .gov]
Sent : Tuesday, July 11, 2017 9:42 AM
To: Knight, Shahira E. EOP/WHO

Justin .Muzinich@treasury.gov ;
Angus, Barbara <Barbara.Angus@mai l.house .gov>; Mark Prater@finance .senate .gov;
Brendan Dunn@mcconnell.senate.gov : Koenig, Andrew D. EOP/WHO

Cc: Daniel.Kowalski@treasury.gov
Subject: RE: July calendar

Is this for the staff meeting or principals' meeting?
From: Knight, Shahira E. EOP/WHO [mailto
Sent: Tuesday, July 11, 2017 9:36 AM
To: Justin.Muzinich@treasury .gov; Callas, George; Angus, Barbara; Mark Prater@finance.senate.gov ;

Brendan Dunn@mcconne ll.senate.gov ; Koenig, Andre w D. EOP/WHO
Cc: Daniel.Kowalski@treasury.gov
Subject: RE: July calendar
Draft agenda for today. Let me know if you have comments/changes/

From : Justin. Muzin ich@treasury.gov [mailto :Justin. Muzin ich@treasury.gov ]
Sent : Tuesday, July 11, 2017 9:18 AM
To: Knight, Shahira E. EOP/WHO ·
George.Callas@mail.house.gov ;

Barbara.Angus@mail.house.gov ; Mark Prater@finance.senate.gov ;
Brendan Dunn@mcconne ll.senate.gov ; Koenig, Andrew D. EOP/WHO
>
Cc: Daniel.Kowalski@treasury.gov
Subject: July calendar
TREAS-17-0313-D-000005

 Hi All -Attached is a very simple calendar for this month. Does everyone agree with it? If so, would
it be useful to have it at the meeting to make the timeline more concrete?

AMERICAN

UST 000591
PVERSIGHT

TREAS-17-0313-D-000006

 RE: Child Tax Credit u dates
From:

"Orr, Caleb (Rubio)" <caleb_orr@rubio.senate.gov>

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Date:

Fri, 14 Jul 2017 13:14:16 -0400

Thanks very much, Dan. Yes it has been awhile, and I hope you are well at Treasury with its fast pace.
Seems like exciting times are ahead!

From: Daniel.Kowalski@treasury.gov [mailto:Daniel.Kowalski@treasury.gov]
Sent: Thursday, July 13, 2017 6:37 PM
To: Orr, Caleb (Rubio)
Subject: RE: Child Tax Credit updates
Thank you. It's been a while since I heard from you. I trust you are well. I've seen a couple of these
articles and will look at the others. ,
b(5)
Dan
From: Orr, Caleb (Rubio} [mailto:Caleb Orr@rubio.senate.gov
Sent: Thursday, July 13, 2017 4:27 PM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Subject: Child Tax Credit updates

]

Dan,
I wanted to make sure you had seen some recent articles about the Child Tax Credit and how it can
best fulfill President Trump's promises on child care.
Ramesh Ponnuru: How Trump Can Make Good on His Child-Care Promises
Forbes: Top Marginal Tax Rates, Child Tax Credits, And Tax Reform In The Trump Era
National Review: A Better Way Forward on Family Policy
Niskanen Center: Cash is Superior to Child Care
Elaine Maag: Why Trump Might Want To Shift Towards The Child Tax Credit For Low-Income Families
And an interesting end-note from Ross Douthat's column on the Senate healthcare bill a few weeks
ago:

In an environment

where de-industrialization

and social breakdown have driven the

working class Trumpward, saying we should not oversubsidize their health

insurance should be followed by saying so that we can find other ways to help them.
Which the Republican Party could do, if it so chose. It could pass this bill, flaws and all,
and then use the projected cost savings for a tax reform that doesn't just use, say, a small
child tax credit as a fig leaf for huge upper-bracket tax cut, but that's actually organized
around payroll tax cuts, refundable child tax credits, a larger earned-income

tax credit,

and other measures that would make up for the thinning of working-class insurance
coverage with more cash in paychecks and bank accounts.
Best regards,

AMERICAN
UST 000592
PVERSIGHT

TREAS-17-0313-D-000007

 Caleb Orr
Legislative Assistant
Senator Marco Rubio

202-224-3041

AMERICAN

UST 000593
PVERSIGHT

TREAS-17-0313-D-000008

 Re: List of to ics
From :

"Muzinich, Justin" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7 e464fbd30ff8dbedefecb-muzinich, jus">

To:

"Knight , Shahira E. EOP/WHO"
<george.callas@mail.house.gov>

Date :

Sat, 15 Jul 2017 20:50:35 -0400

"Callas, George"

b(5)

From: Callas, George <George.Callas@mail.house.gov>
Date: July 15, 2017 at 8:18:48 PM EDT
To: Knight, Shahira E. EOP/WHO
Cc: Muzinich, Justin <Justin.Muzinich@treasury.gov>
Subject: Re: List of topics

b(5)
> wrote:

On Jul 15, 2017, at 5:17 PM, Knight, Shahira E. EOP/WHO

From: Callas, George [mailto:George.Callas@mail.house.gov

]

Sent : Saturday, July 15, 2017 4:57 PM
To: Knight, Shahira E. EOP/WHO

Cc: Justin.Muzinich@treasury.gov
Subject: Re: List of topics

From: "Knight, Shahira E. EOP/WHO"

Date: Saturday, July 15, 2017 at 12:42 PM
TREAS-17-0313-D-000009

 To: George

Cc:Justin Muzinich
Subject: RE: List of topics

From: Callas, George (mailto:George.Callas@mail.house.gov
Sent : Saturday, July 15, 2017 12:23 PM
To: Knight, Shahira E. EOP/WHO

]

Cc: Justin.Muzinich@treasury.gov
Subject: Re: List of topics
b(5)

b(5)

On Jul 15, 20 17, at 12:06 PM , Knight, Shahira E. EOP/WHO
wrote:

Th at's all I can think of right now.
Thanks for thinking about the schedule.

On Jul 15, 2017, at 9:30 AM, "Justin.Muzinich@treasury.gov "
<Justin.Muzinich@treasury.gov > wrote:
Shahira / George - putting together list of topics to cover each da
are sure to get done what we need . Draft below.
TREAS-17-0313-D-000010

  

Monda 

 

Tuesdai

Wednesdai

   

UST 000596 TREAS-17-0313-D-00001 1

Re: List of to ics
From :
To:

"Knight , Shah ira E. EOP/WHO"

Cc:

"Muzinich, Just in" <justin.muzinich@treasury.gov>

Date:

Sat, 15 Jul 2017 22:24:40 -0400

"Callas, George" <george.callas@mail.house.gov>

On Jul 15, 2017 , at 9:11 PM, Callas , George <George.Callas@mail.house.gov > wrote:

From: "Knight, Shahira E. EOP/WHO"
Date: Saturday, July 15, 2017 at 12:06 PM
To: Justin Muzinich
Cc: George
Subject: Re: List of topics

That's all I can think of right now.
Thanks for thinking about the schedule .

On Jul 15, 2017 , at 9:30 AM, "Justin.Muzinich@treasury.gov " <Justin .Muzinich@treasury.gov > wrote:

Shahira / George - putting to
w hat we need. Draft below.
Monday:
b(5)

TREAS-17-0313-D-000012

 Tuesdai

VVednesday
b(5)

UST 000598 TREAS-17-0313-D-000013

Re: List of to ics
From :

"Muzinich, Justin" <"/o=ustreasury/ou=exchange administrat ive group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7 e464fbd30ff8dbedefecb-muzinich,

To:

"Knight , Shah ira E. EOP/WHO"
<george.callas@mail.house.gov>

Date :

Sun , 16 Jul 2017 06:05:27 -0400

jus">

"Callas, George"

From : Knight, Shahira E. EOP/WHO
Date: July 15, 2017 at 10:48:15 PM EDT
To: Callas, George <George.Callas@mail.house.gov>
Cc: Muzinich, Justin <Justin.Muzinich@treasury.gov>
Subject: Re: List of topics

Looks good to me and makes sense.
On Jul 15, 2017, at 10:35 PM, Callas, George <George.Callas@mail.house.gov > wrote:

So, build ing out the original list so we can lock down the straw man :

• I

I -

-

I •

t, b(5)

b(5)

From: "Knig ht, Shahira E. EOP/WHO"
Date: Saturday, July 15, 2017 at 12:06 PM
To: Just in Muzinich
Cc: George
Subject: Re: List of topics

TREAS-17-0313-D-000014

 That's all I can think of right now.
Thanks for thinking about the schedule.

On Jul 15, 2017, at 9:30 AM, "Justin.Muzinich@treasury.gov " <Justin.Muzinich@treasury.gov > wrote:

Shahira / George - putting together list of topics to cover each day next week so we are sure to get done
what we need . Draft below . Trying to not get into weeds too much. Any thoughts/ what am I missing? On
Monday can decide if so international on tues or wed .
Monday:

b(S)

Tuesday

b(S)

AMERICAN
UST 000600
PVERSIGHT

TREAS-17-0313-D-000015

 From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>, "Knight, Shahira E. EOP/WHO"

Cc:

"Angus, Barbara" <barbara.angus@mail.house.gov>, "Dunn , Brendan (McConnell)"
<brendan_dunn@mcconnell.senate.gov>, "Muzinich, Just in" <justin.muzinich@treasury.gov>,
"Kowalski. Daniel" <daniel.kowalski@treasury.gov>, "Koenig, Andrew D. EOP/WHO"
>, "Meyer, Joyce Y. EOP/WHO" <
>

I

Date:

b(5)
From: Prater, Mark (Finance) [mailto:Mark_Prater@finance.senate.gov]
Sent: Monday, July 17, 2017 9:03 AM
To: Knight, Shahira E. EOP/WHO; Callas, George

Cc: Angus, Barbara; Dunn, Brendan (McConnell); Justin Muzinich; Daniel.Kowalski@treasury.gov;
Koenig, Andrew D. EOP/WHO; Meyer, Joyce Y. EOP/WHO; Swonger, Amy H. EOP/WHO
Subject: RE: agenda for next couple days

Am going to have to watch this show to keep with all of you.
Thanks for getting the agenda together, George .. b(5)

b(5)
From: Knight, Shahira E. EOP/WHO mailto
Sent: Monday, July 17, 2017 7:10 AM
To: Callas, George <George.Callas@mail.house.gov >

Cc: Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;
Justin Muzinich <justin.muzinich@treasury.gov >; Daniel.Kowalski@treasury.gov ; Koenig, Andrew D.
EOP/WHO
.>; Meyer, Joyce Y. EOP/WHO
>; Swonger, Amy H. EOP/WHO
Subject: Re: agenda for next couple days

And why didn't Melisandre know that Dragons tone was build on dragon glass if the Lord of Light
is helping her. Seems she could have been more helpful to Jon Snow had she known this fact. I
can't wait until next Sunday.

On Jul 16, 2017, at 11:30 PM, Calla s, George <George.Callas@mail.house.gov > wrote:
Hey everyone,

Also, if anyone can explain why the Lannisters would fail to garrison Dragonstone with a

TREAS-17-0313-D-000016

 couple hundred men after Stannis abandoned it, please tell me. I am perplexed that they
would just leave the impregnable fortress that guards the entrance to Blackwater Bay
unoccupied. Seems like a major unforced error.

AMERICAN

UST 000602
PVERSIGHT

TREAS-17-0313-D-000017

 From:

"Muzinich, Justin" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7 e464fbd30ff8dbedefecb-muzinich, jus">

To:

"Prater, Mark (Finance)" <mark _prater@finance.senate.gov>, "Callas, George"
<georne.callas@.mail.house.gov> , "Knight, Shahira E. EOP/WHO"

Cc:

"Angus, Barbara" <barbara .angus@mail.house.gov>, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell.senate.gov>, "Kowalski. Dan iel" <daniel.kowalski@treasury.gov>,
"Koenig, Andrew D. EOP/WHO"
v>, "Mever, Joyce Y. EOP/WHO"
>,

Date:

Mon, 17 Ju l 2017 10:53 :33 -0400

agreed
From: Prater, Mark (Finance) [mailto:Mark_Prater@finance.senate.gov]
Sent: Monday, July 17, 2017 10:31 AM
To: Callas, George <George.Callas@mail.house.gov>; Knight, Shahira E. EOP/WHO

'>
Cc: Angus, Bar ara <Bar ara .Angus@mail.house.gov>; Dunn, Brendan (McConnell)
<Brendan_Dunn@mcconnell.senate.gov>;
Muzinich, Justin <Justin.Muzinich@treasury.gov>;
Daniel <Daniel.Kowalski@treasury.gov>; Koenig, Andrew D. EOP/WHO
•>; Meyer, Joyce Y. EOP/WHO
Swonger, Amy H. EOP WHO<
I
Subject: RE: agenda for next couple days

Kowalski,

'>;

Thanks, George.
This is delineation

makes sense.

From: Callas, George (mailto:George.Callas@mail.house.gov ]
Sent: Monday, July 17, 2017 9:34 AM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Knight, Shahira E. EOP/WHO

>
Cc: Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Justin Muzinich <justin.muzinich@treasury.gov
Daniel.Kowalski@treasury.gov : Koenig, Andrew D. EOP/WHO
>; Swonger, Amy H. EOP/WHO
Meyer, Joyce Y. EOP/WHO

>;

I watched the first four seasons in one year to get caught up by season 5.

b(5)

TREAS-17-0313-D-000018

 b(5)

From: Prater, Mark (Finance) [mailto:Mark

Prater@finance.senate.gov ]

Sent: Monday, July 17, 2017 9:03 AM
To: Knight, Shahira E. EOP/WHO; Callas, George
Cc: Angus, Barbara; Dunn, Brendan (McConnell); Justin Muzinich; Daniel.Kowalski@treasury.gov ;
Koenig, Andrew D. EOP/WHO; Meyer, Joyce Y. EOP/WHO; Swonger, Amy H. EOP/WHO
Subject: RE: agenda for next couple days
Am going to have to watch this show to keep with all of you.

From: Knight, Shahira E. EOP/WHO mailto
Sent: Monday, July 17, 2017 7:10 AM
To: Callas, George <George.Callas@mail.house.gov >
Cc: Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnelLsenate.gov >; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;
Justin Muzinich <justjn.muzjnjch@treasurYJ?ov >; Daniel.Kowalski@treasury.gov : Koenig, Andrew D.
EOP/WHO
>; Meyer, Joyce Y. EOP/WHO
>; Swonger, Amy H. EOP/WHO
Subject: Re: agenda for next couple days

And why didn't Melisandre know that Dragons tone was build on dragon glass if the Lord of Light
is helping her. Seems she could have been more helpful to Jon Snow had she known this fact. I
can't wait until next Sunday.
On Jul 16, 2017 , at 11:30 PM, Calla s, George <George.Callas@rnail.house.gov > wrote:
Hey everyone,

Also , if anyone can explain why the Lannisters wou ld fail to garrison Dragonstone with a
couple hundred men after Stannis abandoned it, please tell me. I am perplexed that they
would ju st leave the impregnable fortress that guards the entrance to Blackwater Bay
unoccupied. Seems like a major unforced error.

TREAS-17-0313-D-000019

  

UST 000605 TREAS-17-0313-D-000020

From:

"Hulse, Bill" <bill.hulse@mail.house.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Cc:

"Heitlinger, David" <david.heitlinger@mail.house.gov>

Date:

Mon, 17 Jul 2017 11 :44:36 -0400

Attachments:

Muni Caucus - Mnuchin Mtg Request - 7.17.17.pdf (1.07 MB)

Brad Attached is a meeting request from Congressman Hultgren and Congressman Ruppersberger, the CoChairs of the Municipal Finance Caucus, to discuss tax reform. S ecificall Members of the Municipal
Finance Caucus would appreciate the opportunity to discuss

Please let David and I know how we can help facilitate this meeting.
Thank you,
Bill

Bill Hulse I Legislative Assistant
U.S. Representative
Randy Hultgren (IL-14)
2455 Rayburn I Washington, DC 20515
Office: (202) 225-2976
Website I Facebook I Twitter

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TREAS-17-0313-D-000021

 C!tongrrnn
of tqr Bnitr~ ~tatrn
ma.sqington, ifil 20515

July 17, 2017
The Honorable Steven Mnuchin
Secretary of the Treasury
U.S. Department of the Treasury
1500 Pennsylvania Avenue NW
Washington, DC 20500
Dear Secretary Mnuchin :
As Co-Chairs of the Municipal Finance Caucus in Congress, we write you today to request a meeting
regarding President Trump's ongoing efforts to comprehensively reform our tax code. 1 In general, we
support this initiative, which we believe will drive efficiencies and spur economic growth. As the
Administration considers changes, we would like to impress upon you the importance of preserving the
existing tax-exempt status of municipal bonds . Reform efforts should holistically review our tax-code
while recognizing those provisions that are working - due no harm.
The existing tax-exempt status of municipal bonds is a hallmark of our tax-code that has functioned
effectively for over 100 years. States and local governments depend on the tax-exempt status of
municipal bonds to remain competitive in our capital markets. Nearly two-thirds of core infrastructure
investments in the United States are financed with municipal bonds; in 2015 alone, more than $400
billion in municipal bonds were issued to finance roads, school, affordable housing, waters systems,
courthouses, hospitals, airports, · ports, and utility plants . This wouldn't be possible without the investors
- both individual and institutional - that turn to these financial instruments for a dependable return .
There is bipartisan agreement in Congress for preserving the existing tax-exempt status of municipal
bonds. Earlier this year, 160 Members of the House of Representatives sent a letter to Chairman Brady
and Ranking Member Neal expressing strong support for tax-exempt municipal bonds .2 In the 114th
Congress, we were joined by 122 of our colleagues in a similar letter to Speaker Boehner and Leader
Pelosi. 3 In the 113th Congress we were joined by 139 colleagues. 4 Under our leadership, the Municipal
Finance Caucus is a forum to discuss the opportunities and challenges for states and local governments

1

Municipal FinanceCaucus,established February 2016. http s://hultgren .house.gov/congressional-municipalfinance-caucus
2
Hultgren, R., & Ruppersberger,D. (2017, March 9). Tax Exempt Status of Municipal Bonds [Letter to Chairman
Kevin Brady and RankingMember Richard Neal).
3
Hultgren, R., & Ruppersberger,D. {2013, June 28). Tax Exempt Status of Municipal Bonds [Letter to SpeakerJohn
Boehner and Democratic Leader Nancy Pelosi]. http s://hu ltgren.house.gov/newsroom/pre ss-releases/hultgrenru ppersberger-lead-bi partisan-effort-to -protect-municipaI-fi nanee
4
Hultgren, R., & Ruppersberger,D. (2015, April 15). Tax Exempt Status of Municipal Bonds [Letter to SpakerJohn
Boehner and Democratic Leader Nancy Pelosi]. https ://hultgren .house.gov/sites/hultgren .house.gov/files/201504 -15 Letter Muni Finance Exemption HouseLeadership.pdf

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PRINTED ON RECYCLED PAPER

TREAS-17-0313-D-000022

 to independently fund initiatives that w ill strengthen their communities, and to advocate for bipartisan
5
policies that enhance their access to the capital markets.
We look forward to the opportunity for members of the Municipal Finance Caucus to meet with you
before Congress recesses in August.

Very Respectfully,

C.A.~
C.A. Dutch Ruppersberger
Co-Chair, Municipal Finance Caucus

AMFf~ICAN

000608
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PVERUST

TREAS-17-0313-D-000023

 RE: Toda
From :

"Knight, Shahira E. EOP/WHO"

To:

"Callas, George" <george.callas@mail.house.gov>, "Muzinich, Justin"
<justin.muzinich@treasury.gov>

Date :

Tue, 18 Jul 2017 11 :08:35 -0400

That makes sense .

b(5)

Thanks.

From: Callas, George [mailto:George.Ca llas@mail.house.gov]

Sent: Tuesday, July 18, 2017 9:52 AM
To: 'Justin.Muzinich@treasury.gov'

<Justin.Muzinich@treasury.gov>;

Knight , Shah ira E. EOP/WHO

Subject: RE: Today

b(5)
I

From: Justin. Mu zi n ich@treasury.gov

[mailto :Justin. Mu zi n ich@treasury.gov]

Sent: Tuesday, July 18, 2017 9:44 AM
To: Callas, George ;
Subject: Re: Today

b(5)

From: Knight, Shahira E. EOP/WHO
Date: July 18, 2017 at 9:14:45 AM EDT
To: Callas, George <George.Callas@mail.house.gov >
Cc: Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: Re: Today

b(5)

b(5)

Thanks.

On Jul 18, 2017, at 7:07 AM, Callas, George <George.Callas@mail.house.gov > wrote:

TREAS-17-0313-D-000024

 From: "Knight, Shahira E. EOP/WHO"
Date: Tuesday, July 18, 2017 at 6:26 AM
To: Justin Muzinich
Cc: George
Subject: Re: Today

On Jul 18, 2017, at 5:20 AM, "Justin.Muzinich@treasury.gov "
<Justin .Muzinich@treasury.gov > wrote:

AMERICAN
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TREAS-17-0313-D-000025

 I will email group to this effect, if you are ok? Pis lmk if changes.

From: Callas, George <George .Callas@mail.house .gov>
Date: July 16, 2017 at 11:29:48 PM EDT

To:

i

Brendan Dunn
<Brendan Dunn@mcconnell.senate .gov>, Muzinich, Justin
<Justin.Muzinich@treasury.gov >, Angus, Barbara <Barbara.Angus@mail.house.gov >,
Kowalski, Daniel <DanjeLKowalski@treasury .gov>, Mark Prater
<mark_prater@finance.senate.gov >, Knight, Shahira E. EOP/WHO
Koenig, Andrew D. EOP/WHO

>
Subject: agenda for next couple days

Hey everyo ne,

Also, if anyone can explain why the Lannisters would fail to garrison Dragonstone with a
couple hundred men after Stannis abandoned it, please tell me. I am perplexed that they
would just leave the impregnable fortress that guards the entrance to Blackwater Bay
unoccupied. Seems like a major unforced error.

TREAS-17-0313-D-000026

 RE: Toda
From:

"Muzinich, Justin" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7e464fbd30ff8dbedefecb-muzinich,

To:

"Callas, George" <george.callas@mail.house.gov>

Date:

Tue, 18 Jul 2017 13:23:01 -0400

jus">

Got it thanks

From: Callas, George <George .Callas@mail.house .gov>
Date: July 18, 2017 at 1:12:47 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury .gov>
Subject: RE: Today

b(5)
From: Callas, George
Sent: Tuesday, July 18, 2017 11:13 AM
To: 'Justin.Muzin ich@treasury.gov'
Subject: RE: Today

b(5)
From: Justin .Muzin ich@treasury.gov [ma ilto:Justi n .Muzin ich@treasury.gov ]
Sent: Tuesday, July 18, 2017 9:58 AM
To: Callas, George
Subject: RE: Today

Got it, thanks. Will print out for Jay. Will shortly too.
From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Tuesday, July 18, 2017 9:57 AM
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: RE: Today

]

b(5)
b(5)

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TREAS-17-0313-D-000027

 From : Justin.Muzinich@treasury.gov (mailto:Justin.Muzinich@treasury.gov
Sent : Tuesday, July 18, 2017 8:12 AM
To: Callas, George;
Subject: RE: Today

]

b(5)
I

b(5)
From: Callas, George (mailto:George.Callas@mail.house.gov
Sent: Tuesday, July 18, 2017 7:08 AM
To: Knight, Shahira E. EOP/WHO

]
Muz inich, Justin

<Justin.Muzinich@treasury.gov >
Subject: Re: Today

b(5)

TREAS-17-0313-D-000028

 From : "Knight, Shahira E. EOP/WHO"
Dat e: Tuesday, July 18, 2017 at 6:26 AM
To: Justin M uzin ich

Cc: George
Subject : Re: Today
b(5)

On Jul 18, 2017, at 5:20 AM, "Justin.Muzinich@treasury.gov " <lustin.Muzinich@treasury.gov > wrote:

I will email group to this effect, if you are ok? Pis lmk if changes.

From : Callas, George <George.Callas@mail.house.gov >
Dat e: July 16, 201 7 at 11:29:48 PM EDT

To:

....

... .: .- .. •

. .- ..

.

-

•
•-

...

. -:

• .

• ••

•

.:
:

•

Hey everyone,
Here is a proposed agenda for the next couple of days,

TREAS-17-0313-D-000029

 Also, if anyone can explain why the Lannisters would fail to garrison Dragonstone with a couple hundred
men after Stannis abandoned it, please tell me. I am perplexed that they would just leave the impregnable
fortress that guards the entrance to Blackwater Bay unoccupied. Seems like a major unforced error .

AMERICAN

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TREAS-17-0313-D-000030

 RE: Tax Reform Public Outreach
From:

' b(6)

, treasury.gov>

To:

"Sayegh, Tony" <tony.sayegh@treasury.gov>, "Miller, Eli" <eli.miller@treasury.gov>, "Burks,
Jonathan" <jonathan.burks@mail.house.gov>

Cc:

@treasury.gov>, "Muzinich, Justin"
<justin.muzinich@treasury.gov>

Date:

Wed, 19 Jul 2017 10:47:01 -0400

Thanks, Tony.
From: Sayegh, Tony
Sent: Wednesday, July 19, 2017 10:45 AM
To: Miller, Eli <Eli.Miller@treasury.gov>; Burks, Jonathan <Jonathan.Burks@mail.house.gov>

•

----@treasury.gov>~
@treasury.gov>; M uzi n ich, Justi ~treasury.gov>
Subject: Re: Tax Reform Public Outreach
Cc:

Great. Adding -

The three of us will attend, please let us know when. Thanks.

From: Burks, Jonathan <Jonathan.Burks@mail.house.gov >

Date: July 18, 2017 at 3:05:21 PM EDT
To: Stewart, David <David.Stewart@mail.house.gov >, Cohn, Gary

>, Soderstrom, Sharon (McConnell)
<Sharon Soderstrom@mcconnell.senate.gov >, Marc Short
)
>, McGahn, Shannon <Shannon.McGahn@treasury .gov>, Miller,
>, Katz, Jeremy_
<Jay Khosla@finance.senate.gov >
Cc: Dockery, Derrick <Derrick.Dockery@mail.house.gov >, Pointer, Katie
<Katie.Pointer@mail.house.gov >
Subject: Tax Reform Public Outreach
Col leagues, b(5)
b(5)
I

Please identi fy whom on your team you'd like invited to this to Katie Pointer (copied} and we'll get a
meeting scheduled.
TREAS-17-0313-D-000031

 Thank you,
Jon

Jonathan Burks
Chief of Staff
Office of the Speaker
(202} 225-5550
Jonathan .Bu rks@ma i I.house.gov

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TREAS-17-0313-D-000032

 RE: Tax Reform Public Outreach Meetin
From :
To:

"Pointer , Katie" <katie.pointer@mail.house.gov>
jay _khosla@finance.senate.gov, julia_ lawless@finance .senate .gov,
mark_prater@finance.senate.gov, "Miller, Eli" <eli.miller@treasury.gov>, "Hunt, Anita
Maria" <anita.hunt@treasury.gov>. "Muzinich, Justin" <justin.muzinich@treasury.gov>.
"Alvarado, Carmen" <carmen.alvarado@treasury.gov>, "Sayegh, Tony"
<tony.sayegh@treasury.gov>, (McConnell) Sharon Soderstrom
<sharon_soderstrom mcconnell.senate .gov>,
', "Meyer,
Joyce Y. EOP/WHO"
<rick.limardo mail.h
EOP/WHO"
"Schillinger, mI y <emI y.sc

Cc:

"Burks, Jonathan" <jonathan.burks@mail.house.gov>, "Dockery, Derrick"
<derrick.dockery@mail.house.gov>

Date:

Thu, 20 Jul 2017 08:28:47 -0400

Attachments:

Capitol Map - South Door.pdf (117.53 kB)

Good M orning,
Tomorrow at 9 :30am (7/21) Jonathan and Derrick will host a meeting regarding Tax Reform Public
Outreach in H-232 of the Capitol. Please feel free to invite indiv iduals from your respective offices
who we may have missed.
Attached is a map detai ling access to the Capitol through the South Door entrance. Please let me
know should you have any questions.
Warm regards,
Katie
Katie Pointer
Office of Speaker Paul D. Ryan (Wl-01)
(202) 225-5550

From : Pointer, Katie
Sent: Wednesday, July 19, 2017 12:26 PM
To: 'jay_kho sla@finance.senate.gov'; 'Julia_Lawle ss@finance .senate .gov' ;

'Mark _ Prater@fi na nee.senate .gov'; 'Eli .Mi ller@treasury.gov';
'Justin.Muzinich@treasury.gov'; 'Carmen.Alvarado@treasury.gov;
'(McConne ll) Sharon Soderstrom';
Stewart, David; Limardo, Rick; Cc: Burks, Jonathan; Dockery, Derric
Subject: Tax Reform Public Outreach Meeting

Tony.Sayeg @treasury.gov';
'; Meyer, Joyce Y. EOP/WHO;
'

Hello,
We are looking at a time between 9:lSam-11:00am this Friday (7/21) to meet. Please let me know if
you have a conflict or are unable to attend.

A calendar inv it ation will be sent out once the time is confirmed. Jonathan and Derrick will host here
in the Speaker's office, H-232 of the Capitol. Please let me know shou ld you have any questions or
concerns.
Warm regards,
TREAS-17-0313-D-000033

 Katie

Katie Pointer
Office of Speaker Paul D. Ryan (Wl-01)
(202) 225-5550

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TREAS-17-0313-D-000034

 Re: Pass throu h
From:

"Wrase, Jeff (Finance)" <jeff_wrase@finance.senate.gov>

To:

"Mackie, James Ill" <james.mackie@treasury.gov>

Date:

Fri, 21 Jul 2017 12:18:37 -0400

Many thanks.
Sent from my iPhone
On Jul 21, 2017, at 12:08 PM, "James.Mackie@treasury.gov " <James.Mackie@treasury.gov > wrote:

Jeff,
b(5)

J

James B. Mackie III
Director, Office of Tax Analysis
US. Department of the Treasury
(202) 622-1326

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 tax reform
From:

"Neill, Jim (Budget)" <jim_neill@budget.senate.gov>

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Date:

Fri, 21 Jul 2017 16:06:12 -0400

Attachments:

EntertainmentSoftwareAssn-TaxReformComments.

pdf (57 .35 kB)

Hi Dan.
I trust you're well.
The Entertainment Software Association's Missy Foxman, who I regularly see in my travels, asked me
about tax reform development and movement, including engaging with the administration.
I told her
I'd be happy to pass along her organizations strong interest to work with Congress and Treasury.
Attached is a letter ESA sent to Chairman Hatch last week.
Missy Foxman can be reached at 202 903-2308 or mfoxman@theesa.com
ESA's website is http://www.theesa.com/
Best to you - hope we see each other soon.
Jim

Jim Neill
U.S. Senate Budget Committee
SD-624
202/224-2370

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 8

entertainment
"'
software
association

July 17, 2017

Submitted electronically via taxreform2017@finance.senate.gov
The Honorable Orrin G. Hatch
Chairman
U.S. Senate Committee on Finance
219 Dirksen Senate Office Building
Washington , DC 20510-6200
Re :

Tax Reform Comment Letter to the U.S. Senate Committee on Finance

Dear Chairman Hatch :
Thank you for the opportunity to comment on how to best reform this nation's tax system. The
Entertainment Software Association ("ESA") is the trade association exclusively dedicated to
serving the needs of companies that publish computer and video games. We write on behalf of
an industry that employs roughly 220 ,000 people in the United States and that is eager to
implement a more modem tax system that offers incentives for innovation and enriches job
growth.
The businesses we represent contribute immensely to the American economy - through highpaying jobs and significant contributions to software research and development. Our industry
consists of over 3,000 companies spanning all 50 states and 84 percent of all Congressional
districts. 1 In 2016 , our companies sold over 24.5 billion video games and generated more than
$30.4 billion in revenue in the United States. The video game industry is also one of the fastest
growing sectors in the U.S. economy. Total revenues increased more than 29 percent from 2015
to 2016 , proving the video game industry is a strong engine for economic growth.
Some of our industry's most significant impacts occur in the states represented by Senate
Finance Committee members. For example , in Utah , there are 43 entertainment software
companies , 6 colleges and universities with video game design programs - including the
University of Utah , which perennially ranks in the Top 5 of the Princeton Review's top video
game design rankings 2 - and the industry is growing by 100 percent annually.
1

For more on the impact of the video game industry, see https://www.areweinyourstate.org .
For more on the Princeton Review's video game design rankings, see
https://www.princetonreview.com/college-rankings?rankings =top-50-game-design-ugrad .
2

AMEr

Entertainment Software Association • 601 Massachusetts Avenue , NW • Suite 300 • Washington , DC 20001 • 202.223.2400 • 202.223.2401 FAX

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TREAS-17-0313-D-000037

 2

The following comments address two of the four key issue areas identified in your letter dated
June 16, 2017 : (i) (issue #2) - strengthening businesses by lowering tax rates and broadening the
tax base, and (ii) (issue #4) - updating our international tax system to make our nation more
competitive.
The comments are organized by first focusing on what ESA considers the essential elements of
comprehensive business tax reform. As a follow-up , we offer separate recommendations in the
event that Congress pursues a more modest approach to modernizing the business tax rules.
Key elements of comprehensive business tax reform. Comprehensive reform of the business
tax rules is critical to stimulate high-wage domestic job growth in the video game industry and
enhance innovation nationally. The current tax system impedes our industry's ability to achieve
greater growth and should be updated to meet the needs of a quickly evolving 21st century
economy. ESA strongly encourages the Senate Finance Committee to pursue a comprehensive
approach that lowers the corporate tax rate to within a range of 15 to 20 percent - a reform that
will advance your goal of strengthening large and small businesses alike. A tax rate within this
range will encourage video game companies to create more high tech jobs (complementing the
more than 480 colleges and universities around the country offering video game design courses).
This growth will benefit communities across the United States and strengthen one of the fastest
growth industries in America.

The second key element of comprehensive tax reform should be the adoption of a competitive
territorial tax system. Under this model , income earned in foreign jurisdictions would be subject
to tax only once - in the jurisdiction in which the income is sourced. Such a model would
provide our companies with the necessary flexibility to deploy capital so as to maximize our
investment and financing needs. Furthermore , legislative action to encourage the development
and ownership of intellectual property ("IP") in the United States through a lower rate for IPrelated export income - including not only patents but also copyrights - would combat efforts by
other countries to attract this highly mobile U.S. corporate income.
To transition to this new territorial model , comprehensive tax reform should also reduce the tax
rate on repatriation of accumulated foreign earnings to a one-time charge at a tax rate no higher
than 8.75% (and with an appropriate , lower rate for non-cash amounts). The video game
industry's global revenue currently exceeds $100 billion. But the current 35% repatriation tax
rate discourages our industry from deploying foreign revenue in the United States. This
transition rule (with respect to post-1986 accumulated foreign earnings) would eliminate this
"lock out effect" caused by our current worldwide tax system and encourage high tech
companies to invest more in domestic innovation and technologies. This country is the
birthplace of the silicon chip, and should remain a global leader in technology development.
ESA fully appreciates the enormity of the task at hand- and that a corporate tax reduction of this
magnitude will require trade-offs and compromises. Permanently lowering the corporate tax rate
to our proposed range would provide a much greater level of certainty and benefits to businesses
than scattered and unpredictable tax credits. To that end, ESA would be prepared to support
modifications to certain credits and incentives (and the adoption of reasonable targeted rules to

AMEr

Entertainment Software Association • 601 Massachusetts Avenue , NW • Suite 300 • Washington , DC 20001 • 202.223.2400 • 202.223.2401 FAX

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TREAS-17-0313-D-000038

 3

prevent income tax shifting to low-tax jurisdictions) in order to achieve meaningful and longlasting comprehensive business tax reform. Despite this willingness to accept such trade-offs ,
the Committee should be extremely cautious when examining modifications to deductions for
inherently necessary and ordinary business expenses , especially to the current tax treatment of
advertising expenditures. Advertising and marketing campaigns are critically important to the
success of product releases in our industry.
Another related concern lies maintaining the deductibility of interest. Debt financing is crucial
for many companies to grow their businesses , cover payroll , and invest in technology
development. The video game industry, in particular , relies heavily on the ability to deduct
interest. Video game studios generally have long production periods , and therefore need
financing to support the development of new video games. Any limitations or denial of interest
deductions will essentially increase the cost of capital , which will have a significant negative
impact on the ability of our industry to offer more jobs and invest in technology development.
A more modest approach to modernizing the business tax rules. If comprehensive tax
reform in our proposed structure is not achievable in the 115th Congress , Congress should
address the most onerous roadblocks to innovation and sustained economic job growth through a
piecemeal approach. If Congress adopts this more modest approach (with smaller reduction of
the corporate rate), we would encourage you to: (i) reduce the corporate tax rate as low as
possible without disallowing immediate deductibility for ordinary business expenses such as
advertising and interest , (ii) reduce the tax cost of repatriating accumulated foreign earnings, and
(iii) increase the rate on the research and development ("R&D") tax credit to 20 percent and
simplify the credit for software development for U.S. owned IP. Software development in the
gaming industry is crucial for development in other technology-dependent industries , like
defense and healthcare.

These reforms are commonsense solutions for putting this nation's economy on a stronger path
to sustained economic growth. Lawmakers of both parties can proudly stand by the goals of
getting more Americans to work in high-wage and innovative industries.
We look forward to maintaining a dialogue as you continue to evaluate the ways to best simplify
and strengthen the American tax code. If you have any questions or comments regarding our
suggestions , please do not hesitate to contact me.
Sincerely,

~LJ,J_~
Michael D. Gallagher
President & CEO

AMEr

Entertainment Software Association • 601 Massachusetts Avenue , NW • Suite 300 • Washington , DC 20001 • 202.223.2400 • 202.223.2401 FAX

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TREAS-17-0313-D-000039

 RE: Are you comin 9 to the breakfast tomorrow?
From:

"Warren, Mark (Thune)" <mark_warren@thune.senate.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Date:

Mon, 24 Jul 2017 09:35:20 -0400

Attachments:

S Corp Modernization Act 2017 Section by Section FINAL.pdf (247.02 kB); invest-actsection-by-section-5-16.pdf (246.76 kB); CHARITY Act Summary -- FINAL.pdf (211.42
kB); NEW GIG Act Summary FINAL.pdf (285.95 kB)

Here you go:
•
•
•
•
•

Death Tax Repeal Act (S. 205} - no one-pager, but the release is below
S Corporation Modernization Act (S. 711} - summary attached
Investment in New Ventures and Economic Success Today (INVEST} Act (S. 1144} - summary
attached
Charities Helping Americans Regularly Throughout the Year (CHARITY}Act (S. 1343} summary attached
New Economy Works to Guarantee Independence and Growth (NEW GIG} Act (S. 1549 summary attached

Thune Reintroduces Legislation to Kill the
Death Tax
"As if the long arm of the IRS isn't intrusive enough during
life, too often the death tax punishes hard-working
Americans even after they've passed away."
January 24, 2017
WASHINGTON -

U.S. Sen. John Thune (R-S.D.), a member of the tax-writing Senate Finance Committee, today
reintroduced legislation to permanently repeal the federal estate tax, more commonly known as
the death tax. Thune' s bill, the Death Tax Repeal Act of 2017, would finally end this purely
punitive tax that has the potential to hit family farms, ranches, and businesses as the result of the
owner's death. U.S. Rep. Kristi Noem (R-S.D.) today introduced a companion version of
Thune's bill in the U.S. House of Representatives. A previous version of Thune's bill was
adopted as part of the non-binding fiscal year 2016 budget resolution.
"As if the long arm of the IRS isn't intrusive enough during life, too often the death tax punishes
hard-working Americans even after they've passed away," said Thune. "In an environment
where it's frequently too difficult and costly for family-owned farms to be passed from one
generation to the next, we should be knocking down hurdles to find ways to incentivize families
to retain these multi-generation businesses. Repealing the death tax would be a big step in the
right direction. I'm committed to working as hard and as long as it takes to get rid of this onerous
tax, and I'm glad so many of my colleagues are willing to take up this fight as well."
J-\IVILI

I .,//\I
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TREAS-17-0313-D-000040

 "I am proud to join Senator Thune in introducing the Death Tax Repeal Act, which will finally
abolish this unfair tax, and I appreciate his leadership on this issue," said Senate Majority
Leader Mitch McConnell.
Thune's bill is supported by the American Farm Bureau Federation, Associated Builders and
Contractors, National Association of Manufacturers, National Federation of Independent
Business, Americans for Tax Reform, Club for Growth, National Black Chamber of Commerce,
International Franchise Association, National Taxpayers Union, Family Business Coalition, the
Family Business Estate Tax Coalition, and many others.
Thune's bill is cosponsored by U.S. Sens. Lamar Alexander (R-Tenn.), John Barrasso (R-Wyo.),
Roy Blunt (R-Mo.), John Boozman (R-Ark.), Thad Cochran (R-Miss.), John Comyn (R-Texas),
Mike Crapo (R-Idaho), Ted Cruz (R-Texas), Steve Daines (R-Mont.), Mike Enzi (R-Wyo.), Joni
Ernst (R-Iowa), Deb Fischer (R-Neb.), Cory Gardner (R-Colo.), Chuck Grassley (R-Iowa), Dean
Heller (R-Nev.), John Hoeven (R-N.D.), Jim Inhofe (R-Okla.), Johnny Isakson (R-Ga.), Mike Lee
(R-Utah), Mitch McConnell (R-Ky.), Jerry Moran (R-Kan.), Pat Roberts (R-Kan.), Mike Rounds
(R-S.D.), Tim Scott (R-S.C.), Richard Shelby (R-Ala.), and Thom Tillis (R-N.C.).
Permalink: https://www.thune.senate.gov /public/index.cfm/2017/l /thune-reintroduces-legislationto-kill-the-death-tax

From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov]
Sent: Monday, July 24, 2017 9:12 AM
To: Warren, Mark (Thune} <Mark_Warren@thune.senate.gov>
Subject: RE: Are you coming to the breakfast tomorrow?

Also, do you have one-pagers on your tax reform related bills?
From: Warren, Mark (Thune} [mailto:Mark Warren@thune.senate.gov
Sent: Monday, July 24, 2017 9:07 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Are you coming to the breakfast tomorrow?

]

I will confirm with our scheduler this morning on Sen. Thune. He generally does not have staff
accompany him.
From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Monday, July 24, 2017 9:05 AM
To: Warren, Mark (Thune} <Mark Warren@thune.senate.gov >
Subject: Are you coming to the breakfast tomorrow?

Brad Bailey
Deputy Assistant Secretary for Tax and Budget
Office of Legislative Affairs
U.S. Department of the Treasury
Brad ley.ba iley@treasury.gov
C: (202} 615-2125
0: (202} 622-2878

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 S CORPORATION
MODERNIZATION ACT OF 2017
S.711
Summary of Provisions
Section 1 - Short Title
The bill is referred to as the "S Corporation Modernization Act of 2017. "

Section 2 - Expansion of Qualifying Beneficiaries of an Electing Small Business Trust
Shareholders of an S corporation generally must be real people living in the United States, with
limited exceptions certain trusts , estates and tax-exempt organizations. As result , non-resident
aliens may not be shareholders of S corporations. This prohibition dates back to the origins of
Subchapter S, and it distinguishes S corporations from the rules that apply to partner ships and
limited liability companies , which may have foreign ownership.
Under current law, an electing small business trust (ESBT) may be a shareholder of an S
corporation , but the same limitations that apply to S-corporation shareholders also apply to ESBT
beneficiaries - including the prohibition against non-resident aliens.
This provision would allow a nonresident alien to be an eligible beneficiary of an ESBT holding Scorporation stock , and thus, nonresident aliens would be permitted , through the ESBT , to be
shareholders of the S corporation.
•

The provision would help ensure that more family-owned businesses stay in the family
while opening doors for S corporations to raise capital and expand their operations outside
the United States.

•

The provision also would eliminate the unintended consequence of terminating an existing
S-corporation election when a nonresident alien becomes a beneficiary of an ESBT holding
S-corporation stock.

•

The ESBT rules ensure that U.S. taxes are paid on the S corporation's income. When a trust
shareholder elects to be treated as an ESBT , it taxed on its share of the S corporation's
income at the highest applicable U.S. tax rate , before any earnings are distributed to the
beneficiaries. As a result , the residency of the trust beneficiaries of an ESBT is of no tax
consequence.

•

In the 110th Congress , this provision was reported out of the Senate Finance Committee and
passed in the Senate as part of a larger package.

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 Section 3 - Modifications to Passive Income Rules
The excess passive investment tax applies to S corporations that have undistributed C corporation
earnings and profits. These rules - sometimes called the "sting tax" - apply to an S corporation that
was previously a C corporation or acquired a C corporation with undistributed earnings and profits.
The passive investment tax is a corporate-level tax that applies to S corporations with a significant
amount of passive income (i.e. , royalties , rents , dividends , interest and annuities). It applies if more
than 25 percent of the S corporation's gross receipts are derived from passive investment income.
The tax is assessed at the maximum corporate rate (35 percent) and , like the built-in gains tax , is
applied on top of any other applicable taxes. Similar rules apply to C corporations treated as
personal holding companies ; however , the passive-income threshold is 60 percent of the C
corporation's gross receipts.
In addition to the passive investment tax, if an S corporation's passive income exceeds the 25percent threshold for three consecutive years , it may lose its status as an S corporation.
The provision would (1) raise the Sting Tax passive-income threshold to 60 percent of gross
receipts , and (2) repeal the "three years and out" restriction on an S corporation's status.
•

These changes were recommended by the Joint Committee on Taxation in its 2001 tax
simplification report and were included in the Camp Tax Reform Act of 2014 (H.R. 1, 113th
Congress).

•

For small S corporations that often cannot afford cutting-edge tax planning , the Sting Tax
can be an unwelcome surprise , with too many S corporations forced to pay the tax because
they inadvertently exceeded the passive-income threshold.

•

The tax forces S corporations to use capital inefficiently - money is diverted away from
business reinvestment , capital expansion projects , and job creation to pay expensive tax
planning , or tax and penalties , for little or no public purpose.

•

The "three years and out" rule also is a trap for the unwary. S corporations that lose their
tax status under this rule revert to C corporation status , which comes with back taxes and
penalties and often comes too late for the business to correct the problem and save the S
corporation.

Section 4 -- S Corporation IRA Shareholders
Banks were first allowed to organize as S corporations following enactment of the Small Business
and Job Protection Act of 1996. Because S corporations are not allowed to be owned within an
individual retirement account (IRA) , some banks were unable to make the new election because
they had IRA shareholders. In addition , severe "prohibited transaction" penalties made it
unworkable for the IRA owner or the bank to buy the stock out of the IRAs.
Congress addressed this situation in 2004 with the American Jobs Creation Act (AJCA) , which
allowed banks with stock held by an IRA on October 22, 2004 to make S-corporation elections.
Like other qualified retirement plans (e.g. , 401(k) plans) , AJCA required the IRA to pay "unrelated

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 business income tax" (UBIT) , which is computed at corporate tax rates , on its share of Scorporation income each year. The IRA also is required to pay UBIT on any gain realized when it
sells any of the stock of the S corporation.
The provision would allow IRAs to hold the stock of any S corporation , whether it is engaged in
banking or not. Consistent with the current law treatment for qualified retirement plans , the IRA
would be subject to UBIT on its share of the S corporation's income and on any gain from the
disposition of S-corporation shares.
•

As Congress considers options for improving access to capital for businesses , this policy not
only would resolve the disparate treatment between S-corporation shares held by a qualified
retirement plan and an IRA , but it also would open up another avenue for small businesses ,
which often have limited access to the public markets , to access needed capital to expand
their businesses and create jobs.

•

It also addresses a flaw in AJCA , which treated S-corporation shares held by an IRA on the
date of enactment differently than an IRA holding the same shares a day later. In addition ,
while current law precludes IRAs from qualifying as a shareholder in a non-bank S
corporation , a qualified retirement plan , such as a 401(k) plan , is a permissible shareholder.
Such disparate treatment also creates a trap for the unwary : If an employee owns shares in
the S corporation through a qualified retirement plan , such as a 401(k) plan , and
subsequently rolls the account including those shares into an IRA , the S corporation's
election could be at risk. This provision would eliminate this pitfall and provide equal
treatment of IRAs owning S-corporation shares.

Section 5 - Charitable Contributions for ESBTs
Before the enactment of the Small Business and Job Protection Act of 1996, S-corporation
shareholders were limited in their ability to engage in basic estate tax planning because the only
trusts eligible to hold S-corporation stock - grantor trusts and qualified subchapter S trusts (QSST)
- were prohibited from having multiple beneficiaries or from accumulating earnings.
To address these limitations , the 1996 Act created electing small business trusts (ESBT) as eligible
S-corporation shareholders. In contrast to grantor trusts and QSSTs , an ESBT can have multiple
beneficiaries and is not required to distribute its income currently. These differences allow an
individual to establish a trust to hold S-corporation stock and spread the trust's income over time
and to multiple family members or other beneficiaries of the trust.
ESBTs have their limitations , however. For example , current law does not allow them to claim a
deduction for certain charitable contributions made by the S corporation , even though an individual
who owns shares directly in the S corporation would be eligible for that deduction.
The provision would conform the rule applicable to ESBTs to the rule applicable to individual
shareholders of an S corporation and allow an ESBT to claim a deduction for its share of charitable
contributions made by the S corporation.
•

The provision would treat S-corporation shareholders equally whether they own the shares
directly or through an ESBT.

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 •

It also would eliminate an impediment for S corporations that chose to make charitable
contributions and thus would encourage charitable giving.

Section 6 - Basis Step-up for S Corporation Assets
In general , upon the death of a partner or an S-corporation shareholder , the basis of the decedent's
partnership interest or S-corporation stock is adjusted to the fair market value as of the date of
death. While this adjustment applies to the basis of the partnership interest or S-corporation stock
(commonly referred to as the "outside basis") , it does not apply to the basis of the business' assets
(the "inside basis"). In many cases , this adjustment results in a "step up" or increase in the outside
basis. Partnerships also may elect to adjust the inside basis of the business' assets. There is no
similar election for an S corporation to adjust the inside basis of its assets.
The provision would provide greater parity for S corporations by allowing an election to adjust the
inside basis of the S corporation's depreciable or amortizable assets upon the death of an Scorporation shareholder. The step-up in basis would be amortizable over a 15-year period and allow
the individual inheriting the S-corporation shares to claim as a deduction I/ 15th of the stepped-up
basis each year. Other shareholders would not be affected. No amortization deduction would be
allowed after the termination of the S corporation or after the sale of S-corporation stock by the
individual inheriting the stock.
•

Individuals who inherit appreciated shares in an S corporation upon the death of a
shareholder are treated differently from individuals who inherit interests in a partnership
because there is no election available to adjust the inside basis of the S corporation's assets.

•

Under certain circumstances , an S corporation may be able to address the lack of basis stepup upon the death of a shareholder by liquidating the S corporation. Such a transaction ,
however , is an extreme solution and unfair to other shareholders who would be taxed on the
appreciation in the value of their shares if the S corporation were liquidated.

Section 7 - Streamlined Procedures for S Corporation Elections
To qualify as an S corporation , a corporation must make an election on IRS Form 2553 for the first
year it wishes to be treated as an S corporation and do so no later than the 15th day of the third
month after the close of that year. For example , a corporation that qualifies to be an S corporation
in 2016 must make its election by March 15, 2017. A timely made election is effective for that tax
year if the corporation meets all eligibility requirements for the period prior to filing the election
and all the required shareholders consent to the election. If these requirements are not met , the
election becomes effective for the following tax year. An election continues in effect for
subsequent tax years until it is terminated (including revocation by the taxpayer).
Similar rules apply to an election to treat an S-corporation subsidiary as a qualified S-corporation
subsidiary (QSub) - which allows the S corporation to treat the subsidiary as a division of the S
corporation and file a single return. In addition , qualified subchapter S trusts (QSST) and electing
small business trusts (ESBT) may elect to qualify as S-corporation shareholders if the election is
made by the 15th day of the third month after the transfer of stock to the trust.

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 The provision would simplify the election process by permitting a corporation to elect on its income
tax return to be treated as an S corporation for the tax year to which the return relates , provided that
the return is filed by the applicable due date (with extensions). In addition , the provision would
apply election procedures to QSubs that are similar to the rules for electing S-corporation status and
permit the IRS to coordinate the election rules for a QSST and ESBT with the new election rules for
S corporations and QSubs. The provision also would provide that the IRS may accept as timely a
late filed revocation if there is reasonable cause shown.
•

For its first tax year, an S corporation can fail to file its initial S-corporation election on time
(e.g. , March 15th), especially if the business has requested an extension to file its first return
as an S corporation. Such a failure to file the election will cause the corporation to retain its
C corporation status , even though it has filed an S-corporation tax return for the year. The
provision simplifies the process and eliminates potential election errors by allowing the
initial S-corporation election to be made on the first S-corporation return.

•

The provision also allows the IRS to coordinate the election process and filing dates for
QSubs , QSSTs and ESBTs to help eliminate potential errors and improve efficiency.

•

For S corporations seeking to revoke their election , the failure to meet the filing deadline
can result in the corporation erroneously filing a C corporation return even though it has
retained its S-corporation status. The provision would allow the IRS to accept late-filed
revocations if the corporation can show reasonable cause for the error.

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TREAS-17-0313-D-000046

 JOHN
THUNE
u. .
0

fir

OU

Sen. John Thune's Investment in New Ventures and Economic Success Today
(INVEST) Act of 2017
Section by Section Summary
Title I - Start-up and Organizational Expenses
Section 101 - Expansion of the deduction for start-up and organizational expenses: The bill would
consolidate the three separate provisions under current law relating to the deductibility of start-up and
organizational expenses into a single unified section that applies to all business types. Start-up and
organizational expenses include costs to investigate , create , or otherwise begin or acquire a business prior to the
business actually commencing operation as well as costs such as legal or accounting expenses relating to the
formation of a corporation , partnership or limited liability company (LLC). The bill would increase the amount
of these expenses that can be deducted immediately from the current $5,000 to $50,000 and increase the phaseout from the current $50,000 to $100,000 for expenses in excess of the expensing limit. Expenses that are not
immediately deductible would be recovered over a 10-year period , rather the 15-year period under current law.
All dollar thresholds would be indexed for inflation.
Title II - Accounting Methods
Section 201 - Cash method of accounting for small corporations and certain partnerships: The bill would
increase to $15 million the threshold for small corporations and partnerships with a corporate partner to qualify
for the cash method of accounting. The cash method generally allows a business to recognize income and
deduct expenses when the cash is received or paid , rather than having to accrue income and expenses. Under
current law, these types of businesses may only use the cash method if they have average gross receipts of $5
million or less during the preceding three years. Businesses structured as sole proprietors , partnerships (with
non-corporate partners) , LLCs , and S corporations generally may use the cash method regardless of the amount
of their gross receipts. Farm corporations and farm partnerships with a corporate partner may only use the cash
method if their gross receipts do not exceed $1 million in any year. An exception allows certain family farm
corporations to qualify if their gross receipts do not exceed $25 million. The bill would increase the general
farm corporation limit to $15 million , but not reduce the limit for family farm corporations.
Section 202 - Expensing of inventory by small and mid-sized businesses : The bill would permit businesses
that sell materials or products to deduct the cost of such inventory immediately , rather than having to employ an
inventory accounting method as required under current law (e.g., specific identification , first-in-first-out , or lastin-first-out method). Under current law, businesses that are required to use an inventory method also must use
the accrual method of accounting for tax purposes (except for certain small businesses with average gross
receipts of not more than $1 million). This provision would interact with the changes to the cash-method rules
to permit any business with average annual gross receipts of $15 million or less to use the cash method even if
business has inventories.

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 Section 203 - Exception for small and mid-sized businesses from capitalization of certain costs to
inventory : The bill would provide a comprehensive exemption from the uniform capitalization rules
(UNI CAP) for businesses meeting the $15 million threshold proposed for the cash method of accounting
described above. The UNICAP rules generally require a business to capitalize the direct and indirect costs
associated with inventory and recover such costs when the inventory is sold, rather than when the costs are
incurred. The UNICAP rules are complex and can have a significant accounting burden on businesses ,
especially smaller businesses. Under current law , a business with average gross receipts of $10 million or less
in the preceding three years is not subject to the UNICAP rules for personal property acquired for resale. The
exemption does not apply to real property (e.g., buildings) or personal property that is manufactured by the
business. The bill would expand the exemption to apply to real or personal property acquired or manufactured
by the business , provided it meets the $15 million threshold.
Section 204 - Increased exception for completed contract method: The provision would increase the
threshold to $15 million for the completed-contract method , which is used primarily to account for small
construction contracts. Under current law, construction companies with average annual gross receipts of $10
million or less in the preceding three years are permitted to deduct costs associated with construction when they
are paid and recognize income when the building is completed. Other businesses generally are required to
account for longer-term contracts under the percentage-of-completion method , which allows for deductions and
income recognition each year based on the percentage of the contract completed. The competed-contract
method is a simpler accounting method and more closely aligns with the cash method of accounting.
Title III - Expensing and Cost Recovery
Section 301 - Section 179 expensing : The bill would expand the applicability of Section 179 by allowing
smaller businesses to expense the cost of property and equipment as well as building improvements up to $2
million per year with the benefit phased out dollar-for-dollar beginning at $3 million (i.e., a business would no
longer qualify for Section 179 expensing if it invested more than $5 million in a year). Under current law,
businesses may expense up to $510 ,000 (for 2017) and the benefit is phased out when the business invests more
than $2.54 million (for 2017).
The provision would also streamline the Section 179 rules that apply to expensing of costs relating to buildings.
First , it would consolidate the current rules for leasehold improvements , retail improvements , and restaurant
property into a general "improvement property" concept , which was adopted for the bonus -depreciation rules
under the PATH Act. This concept generally would allow costs associated with improving a building (e.g.,
refurbishing restrooms , remodeling restaurant seating areas, modernizing grocery store display aisles and
refrigerated cases) to be expensed within the Section 179 limits regardless of whether the property is leased or
owned and without regard to the particular industry of the business. Second , the bill would allow businesses to
expense other costs associated with a building , including roofs , heating , ventilation and air-conditioning
systems , fire protection and alarm systems , and security systems. Under current law, these costs of improving a
building must be capitalized and depreciated over the 39-year depreciation life of the building. The bill would
also permit the cost of property used in rental real estate (e.g. , appliances , furnishings) to be expensed within the
Section 179 limits.
Section 311 - SO-percent general cost recovery: The bill would make permanent the current temporary rule
that allows businesses to elect to expense SO-percent of the cost of certain property and recover the remaining
cost under the current depreciation rules. This change would allow a business of any size to recover half of the
cost of new investments in qualifying property in the year that the property is placed in service , with the
resulting tax savings available to reinvest in the business. Permanent SO-percent expensing is also important for
smaller businesses that qualify for Section 179 because a business may only expense costs under Section 179 to
2

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 the extent of its income for the year. Thus , SO-percent expensing under the depreciation rules provides
additional flexibility and improved cost recovery for smaller businesses as well as larger ones.
Section 312 -Depreciation of farm machinery and equipment : The bill would restore a provision , which
expired at the end of 2009 , that permitted farmers and ranchers to depreciate most farm machinery and
equipment over five years rather than seven years. The bill also would repeal the rule under current law that
requires property used in a farm business to be depreciated more slowly than in other industries. These changes
would better align the depreciation rules with the economic useful life of farm machinery and equipment and
provide consistent treatment for agricultural businesses under the tax code.
Section 313 - Updated schedule of depreciable property : Under current law, businesses have had to use a
1987 schedule of property class lives (Revenue Procedure 87-56) to determine the recovery periods that apply.
Not surprisingly , there is now a whole range of technology and other types of property that did not exist in 1987
that do not fit squarely within the schedule. The bill would authorize the Treasury Department to work in
conjunction with the Commerce Department's Bureau of Economic Analysis to update the schedule of class
lives. Under the bill, the Treasury Department would issue a report to Congress every five years updating the
schedule. For the first report , which would be due by the end of 2020 , the new recovery periods would become
effective in 2022. The bill also would amend the Congressional Review Act to treat the schedule as a major
rule , which would give Congress more flexibility to overrule any schedule if necessary.
Section 314-Depreciation of business vehicles : The bill would modernize the current and outdated
depreciation rules for business vehicles to allow a business to recover more of the cost of cars, light trucks , and
vans , up to $50,000 over six years. The bill would also allow a business to take full advantage of SO-percent
expensing in the first year that the vehicle is placed in service , up to $25,000. Under current law, a company
that purchases a passenger automobile for business use may only deduct up to $16,935 of the cost over six years
($24 ,935 with temporary SO-percent expensing). Slightly higher limits apply to light trucks and vans. The
current limitation does not apply to industrial vehicles (i.e., weighing more than 6,000 pounds) , vehicles used
for transporting people or products for hire , any ambulance or hearse , or other trucks or vans designated under
IRS regulations.
Section 315 -Amortization of costs of acquired intangibles : The bill would reduce the recovery period for
intangible property that is acquired by a business. Intangible property includes patents , copyrights , trade names ,
franchise rights , customer lists , and the goodwill or going-concern value inherent in a business. Currently , the
cost of such intangibles must be amortized over 15 years , which the bill would reduce to 10 years.

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 CHARITY Act of 2017
Summary of Provisions
Section 1 - Short Title: Charities Helping Americans Regularly Throughout the Year
(CHARITY) Act o/2017.
Section 2 - Sense of the Senate: This section states that encouraging charitable giving should
be a goal of tax reform and that Congress should ensure that the value and scope of the deduction
for charitable contributions is not diminished during a comprehensive rewrite of the tax code.
Section 3 - Standard Mileage Rate: This section would authorize the Treasury Department to
align the simplified standard-mileage rate, which applies for purposes of deducting the use of a
personal vehicle for volunteer charitable services, with the mileage rate that applies to the
deduction for medical and moving expenses. The IRS has the authority to adjust the mileage
rates applicable to business and medical/moving deductions so they can keep pace with inflation.
However, no authority exists under current law to adjust the mileage rate for charitable activities,
and the mileage rate has remained unchanged since 1997.
Section 4 - Modification of Substantiation Requirements for Charitable Contributions:
Under current law, taxpayers must substantiate deductions for charitable contributions of $250 or
more with a contemporaneous written receipt by the tax-exempt organization that accepts the
contribution. This section would eliminate an exemption from the general rule for contributions
that are reported on a return filed by the tax-exempt organization. The provision would address
taxpayer concerns about improper disclosure of donor information and prevent improper use of
the exception to circumvent the requirement for a contemporaneous written receipt.
Section 5 -Require Non-Profits to File Form 990 Electronically: Current law requires only
the smallest and largest tax-exempt organizations to file their annual returns electronically. This
section would require any tax-exempt organization currently required to file Form 990 to do so
in electronic form. This section also requires the IRS to make the information on Form 990s
available to the public in a machine-readable format. The provision would increase transparency
and accuracy while reducing opportunities for tax identity theft and fraud. This section provides
authority for the IRS to phase in the electronic filing requirement for smaller tax-exempt
organizations.
Section 6 - Donor Advised Funds IRA Rollover Eligibility and Transparency: This section
would expand the provision under current law that permits an owner of an individual retirement
account (IRA), who is at least 70½ years old, to exclude from his or her gross income up to
$100 ,000 per year in distributions that are made directly from the owner's IRA to certain public
charities. This section would permit distributions also to be made to donor-advised funds
(DAFs). In addition, it would modify the disclosures that tax-exempt organizations that sponsor
DAFs must make each year so they include the number ofDAFs that had been in existence for
36 months at the end of the tax year as well as the number of those DAFs that made grants
during that same 36-month period. Additionally, the DAF-sponsoring organization would be
required to indicate whether or not it has a policy with respect to DAFs that become inactive,

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 dormant , or fail to make distributions , describe its policy for responding to such funds , and
indicate whether or not the sponsoring organization monitors and enforces that policy.
Permitting DAFs to qualify for IRA rollovers would help community foundations , and other
public charities that maintain DAFs , further their charitable mission in a transparent manner.
Section 7 - Private Foundation Excise Tax Simplification: This section would simplify the
calculation of the excise tax that applies to the investment income of private foundations. The
simplified approach would provide greater certainty to private foundations that currently are
required to calculate a tax rate based on charitable distributions over the previous five years.
Specifically , the provision would impose a I-percent excise tax on investment income , but would
not require foundations to expand time and resources to calculate the payout rates of previous
years.
Section 8 - Philanthropic Enterprise Act: This section would create a limited exception to the
excess-business-holdings tax rules for private foundations that own certain philanthropic
businesses , which are otherwise subject to income tax on their earnings. Specifically , the tax
would not apply if the foundation meets three requirements : (1) the private foundation is the
exclusive owner of the philanthropic business ; (2) all profits of the philanthropic business , except
for reasonable amounts reinvested into the business , must be distributed to the private
foundation ; and (3) the operation of the private foundation and the philanthropic business must
be independent. This provision would create a new model for private foundations to own certain
taxable businesses , which dedicate their earnings to the charitable purposes of the private
foundations , without incurring a tax penalty.

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 NEW GIG Act of 2017
Summary of Provisions
The bill would create a safe harbor that would apply for both income and employment taxes. If
the objective tests of the safe harbor are met , the following will occur :
• the service provider (worker) will be treated as an independent contract , and not an
employee ;
• the service recipient (customer) will not be treated as the employer ; and
• in cases where a third party (payor) facilitates the transactions and payments , as with
internet platform companies , the payor will not be treated as the employer.

Objective tests - The safe harbor focus on three areas that are intended to demonstrate the
independence of the service provider from the service recipient and/or the payor based on
objective criteria , rather than a subjective facts-and-circumstances analysis :
(1) the relationship between the parties (e.g., job-by-job arrangement , the service provider
incurs his or her own business expenses , the service provider is not tied to a single
service recipient) ;
(2) the location of the services or the means by which the services are provided (e.g., the
service provider has his or her own place of business , does not work exclusively at the
service recipient's place of business , provides his or her own tools and supplies) ; and
(3) a written contract with specific requirements (e.g. , stating the independent-contractor
relationship , acknowledging that the service provider is responsible for his or her own
taxes , providing the service recipient's reporting and withholding obligations).
Safe harbor only - Given that the safe harbor is based on objective criteria , it may not apply in
every case. However , the bill would preserve the common law rules for worker classification as
well as the provisions under current law that treat real estate agents and direct sellers (including
direct sellers of promotional products as clarified under the bill) as independent contractors.
Reporting rules - The amount paid to the service recipient under the safe-harbor would be
reported to the IRS. For gig economy arrangements - three-party transactions - the payor would
report payments over $1,000 on IRS Form 1099-K (with the option ofreporting amounts below
that level). For traditional independent-contractor relationships , the service recipient would
follow the existing reporting rules and file a Form 1099-MISC showing the amount paid to the
service provider. The bill would update the reporting rules to require reporting of payments
totaling $1,000 or more in a year , up from $600 under current law. To qualify for the safeharbor , the bill would require the service recipient (or the payor in the gig-economy model) to
withhold a limited amount of the payments made , which would be deposited with the IRS and
treated like an estimated tax payment by the service provider.
Retroactive reclassification - The bill addresses cases where service providers or service
recipients (or payors) mistakenly believe they qualify for the safe-harbor but fail to meet one or
more of the requirements. Based on a good faith effort to comply with the requirements of the
safe harbor , the bill would only allow the IRS to reclassify the service provider as an employee
and the service recipient (or payor) as the employer on a prospective basis.
Tax Court jurisdiction - The bill would expand current law to allow either the service recipient
or the service provider to petition the Tax Court to decide a worker-classification case.

AMEril

.1AI

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PVERSIGHT

TREAS-17-0313-D-000052

 Fwd: Bi Six business outreach
From :
To:

justin .muzin ich@treasury .gov

Cc:
Date:
Attachments:

"Miller , Eli" <el i.miller@ treasury .gov>

derric k.dockery@ma il.house .gov
Mon, 24 Jul 2017 10:32:55 -0400
Big Six Tax Reform Outreach.xlsx (10.38 kB)

Derrick - can u pis add me to this chain going forward. Wasn't able to make it fri but helpfu l to know. Thx. Justin

From : Dockery, Derrick <Derrick.Dockery@mail.house.gov>
Date: July 21, 2017 at 5:34:27 PM EDT
1>, 'Van
To: Miller, Eli <Eli.Miller@treasury.gov>,
Doren, Terry (McConnell)' <Terry_ VanDoren@mcconnell.senate.gov>, 'Sifakis, George A. EOP WHO'
>, Limardo, Rick <Rick.Limardo@mail.ho use.gov>, 'jay_khosla@fi nance.senate .gov'
<joy_khos lo@finoncc.scnotc.gov>
Cc: 'Ma rk_Prater@finance.se nate.gov' <Ma rk_Prater@fi nance.senate .gov>, Callas, George
<George.Callas@mai l.house.gov>, Angus, Barbara <Barbara.Angus@ma il.house.gov>, Knight, Shahira E. EOP/WHO
~u bject: Big Six business outreac ,~

Colleagues,

It was great seeing each of you this morning. Next week is going to hit us fast. I wanted to confi rm that we're all in
agreeme nt•

b(5)

b(5)

I

Have a good weekend!

Thank you,

Derrick Dockery
Business and Intergovernmental Coalitions Director

Office of the Speaker

(202) 226-3192

TREAS-17-0313-D-000053

 RE: Thune Enzi Burr Breakfast Tomorrow
From:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>,
<jay_khosla@finance.senate.gov>

Cc:

"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>,
<justin.muzinich@treasury.gov>

Date:

Mon, 24 Jul 2017 10:35:29 -0400

"Khosla, Jay (Finance)"
"Muzinich, Justin"

Ditto on Jay's comment.

b(5)

From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov]
Sent: Monday, July 24, 2017 10:09 AM
To: Khosla, Jay (Finance} <Jay_Khosla@finance.senate.gov>
Cc: Prater, Mark (Finance} <Mark_Prater@finance.senate.gov>;
Dunn, Brendan (McConnell}
<Brenda n_Du n n@mccon nel I.senate.gov>; Justin .Muzin ich@treasury.gov
Subject: RE: Thune, Enzi, Burr Breakfast Tomorrow

Perfect, thanks.
From: Khosla, Jay (Finance} [mailto:Jay Khosla@finance.senate.gov ]
Sent: Monday, July 24, 2017 10:03 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Cc: Prater, Mark (Finance} <Mark Prater@finance.senate.gov >; Dunn, Brendan (McConnell}
<Brendan Dunn@mcconnell.senate.gov >; Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: Re: Thune, Enzi, Burr Breakfast Tomorrow

b(5)
b(5)

Sent from my iPhone
On Jul 24, 2017, at 9:59 AM, " Bradley.Bailey@treasury.gov

" <Bradley.Bailey@treasury.gov

> wrote:

Just wanted to give you a head's u
Members: Thune, Enzi and Burr.

b(5)

Brad
Brad Bailey
Deputy Assistant Secretary for Tax and Budget

A1v1ct11

.1MI

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TREAS-17-0313-D-000054

 Office of Legislative Affairs
U.S. Department of the Treasury

Bradleibailei?treasurygov
C.

(202) 622-2878

UST 000640 TREAS-17-0313-D-000055

RE: Are

ou comin to the breakfast tomorrow?

From:

"Warren, Mark (Thune)" <mark_warren@thune.senate.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Date:

Mon, 24 Jul 2017 11 :04:37 -0400

I attached the summaries for both in the email earlier. They are not one page - it took a little more
to explain.
From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov]
Sent: Monday, July 24, 2017 10:49 AM
To: Warren, Mark (Thune} <Mark_Warren@thune.senate.gov>
Subject: RE: Are you coming to the breakfast tomorrow?

b(5)

From: Warren, Mark (Thune} [mailto:Mark Warren@thune.senate.gov
Sent: Monday, July 24, 2017 10:24 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Are you coming to the breakfast tomorrow?

]

It's probably obvious, but -

•
•

•

•

•

From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Monday, July 24, 2017 10:04 AM
To: Warren, Mark (Thune} <Mark Warren@thune.senate.gov >

A1v1cr11

..1n1

UST 000641
PVERSIGHT

TREAS-17-0313-D-000056

 Subject: RE: Are you coming to the breakfast tomorrow?

b(5)
From: Warren, Mark (Thune) [mailto:Mark Warren@thune.senate.gov
Sent: Monday, July 24, 2017 10:01 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Are you coming to the breakfast tomorrow?

]

Our Dep. CoS may be joining tomorrow. He will confirm today. Maybe we could touch base
afterward so I can get a download from your perspective. Sorry I'll miss seeing you.
From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Monday, July 24, 2017 9:11 AM
To: Warren, Mark (Thune) <Mark Warren@thune.senate.gov
>
Subject: RE: Are you coming to the breakfast tomorrow?

I believe staff are invited
From: Warren, Mark (Thune) [mailto:Mark Warren@thune.senate.gov
Sent: Monday, July 24, 2017 9:07 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Are you coming to the breakfast tomorrow?

I will confirm with our scheduler this morning on Sen. Thune.
accompany him.

]

He generally does not have staff

From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Monday, July 24, 2017 9:05 AM
To: Warren, Mark (Thune) <Mark Warren@thune.senate.gov
>
Subject: Are you coming to the breakfast tomorrow?

Brad Bailey
Deputy Assistant Secretary for Tax and Budget
Office of Legislative Affairs
U.S. Department of the Treasury
Br~
reasury.gov
C: • •

0: (202} 622-2878

AMERICAN

UST 000642
PVERSIGHT

TREAS-17-0313-D-000057

 RE: Points for tomorrow
From:

"Bailey, Bradley" <"/o=ustreasury/ou=exchange administrative group
(fyd ibohf23spd lt)/cn= recipients/en=? eb678b02d9b41 c0af365038a082c58e-bailey,

To:

"Massey, Bart (Enzi)" <bart_massey@enzi.senate.gov>

Date:

Mon, 24 Jul 2017 11 :27:31 -0400

brad I">

Thank you very much. These are great.
From: Massey, Bart (Enzi} [mailto:Bart_Massey@enzi.senate.gov]
Sent: Monday, July 24, 2017 11:03 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov>
Subject: RE: Points for tomorrow

b(5)

I will be attending the meeting. See you tomorrow. Bart

•
•
•
•

•
•
•
From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Monday, July 24, 2017 10:26 AM
To: Massey, Bart (Enzi} <Bart Massey@enzi.senate.gov >
Subject: Points for tomorrow

b(5)
Brad Bailey
Deputy Assistant Secretary for Tax and Budget
Office of Legislative Affairs
U.S. Department of the Treasury

AIVI t:.t ii .1AI
UST 000643
PVERSIGHT

TREAS-17-0313-D-000058

 Bradleibailei?treasurygov
C.

o: (202) 622-2878

UST 000644 TREAS-17-0313-D-000059

RE: a few items
From:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Knight, Shahira E. EOP/WHO"
, "Muzinich, Justin"
<justin.muzinich@treasury.gov>,
owa s 1, anie < anie . owalski@treasury.gov>,
george.callas@mail.house.gov, barbara .angus@mail.house.gov, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell.senate.gov>

Date:

Mon, 24 Jul 2017 15:46:07 -0400

From: Knight, Shahira E. EOP/WHO [mailto
Sent; Monday, July 24, 2017 3:21 PM
To: Justin .Muzi n ich@treasury .gov; Daniel .Kowa lski@treasury.gov; George.Ca Ilas@mail .ha use.gov;

Barbara.Angus@mail.house.gov; Dunn, Brendan (McConnell)
<Brendan_Dunn@mcconnell.senate.gov>; Prater, Mark (Finance) <Mark_Prater@finance.senate .gov>
Subject: RE: a few items
Justin,
Thanks for sending . I am unfortunately going to miss today's meeting. I would ask that you all refrain
from discussing Game of Thrones until I'm back tomorrow . I must insist on this.

Thanks again,
Shahira
From: Justin. Muzi n ich@treasury.gov [mailto :Justin. Muzi n ich@treasury.gov ]
Sent: Monday, July 24, 2017 1:25 PM
To: Danie l.Kowalski@treasury.gov ; Knight, Shahira E. EOP/WHO

George.Callas@mail.house.gov ; Barbara.Angus@mai l.house.gov ;
Brendan Dunn@mcconne ll.senate.gov ; Mark Prater@finance.senate.gov
Subject: a few items
Hi All - several thoughts from the Secretary to pass on for your reaction:

1)

2)

3)
TREAS-17-0313-D-000060

  

Thank;
Justin

UST 000646 TREAS-17-0313-D-000061

RE: Cat's out of the ba
From :

"Prater, Mark (Finance)" <mark _prater@finance.senate.gov>

To:

"Ferrier, Antonia (McConnell)" <antonia_ferrier@mcconnell.senate.gov>, "Dunn, Brendan
(McConne ll)" <brendan _dunn@mcconnell.senate.gov>, "(W&M) Angus, Barbara"
<barbara .angus@mail.hou se.gov>, "(RYAN) Callas, George" <george .callas@mail.house.gov>,
"Popp , David (McConnell)" <david_popp@mcconnell.senate .gov>, "Stewart, Don (McConnell)"
<don_stewart@mcconnell.senate.gov>, "(W&M) Stewart, David"
<david .stewart@mail.house .gov>, "Stewart , Don (McConnell)"
<do n_stewa rt@mcconne ll.senate .gov>, "Marshall, Hazen (McConnell)"
<hazen_marshall@mcconnell.senate.gov>, "Soder strom , Sharon (McConnell)"
<sharon_soderstrom@mcconnell.senate.gov> , "Burks, Jonathan"
<jonathan.burks@mail.house.gov>, "Muz inich, Just in" <justin.muzinich@treasury.gov>, "(WH)
Knight , Shahira"
"Lawless , Julia (Finance)"
<jul ia_law less@finance.sena e.gov>,
os a, ay (Finance)" <jay _kho sla@finance. senate.gov >,
"Buck , Brendan" <brendan.buck@mail.house.gov>

Date:

Wed, 26 Jul 2017 11:37:10 -0400

We spent two hours early this morning with our members in a tax reform meeting .

b(5)
b(5)

From : Ferrier, Antonia (McConnell)

Sent : Wednesday, July 26, 2017 11:22 AM
To: Dunn, Brendan (McConnell) <Brendan_Dunn@mcconnell.senate.gov>;

(W&M) Angus, Barbara
<Barbara.Angus@mail.house.gov>; (RYAN) Callas, George <George .Callas@mail.house.gov>; Popp,
David (McConnell) <David_Popp@mcconnell.senate.gov>; Stewart, Don (McConnell)
<Don_Stewart@mcconnell.senate.gov>;
(W&M) Stewart, David <David.Stewart@mail.house.gov>;
Stewart, Don (McConnell) <Don_Stewart@mcconnell.senate.gov>;
Marshall, Hazen (McConnell)
<Hazen_Marshal l@mcconnell.senate.gov>; Soderstrom , Sharon (McConnell)
<Sharon _Sod erstrom @mcco nn ell .senat e.gov>; 'Burks, Jonathan' <Jonathan .Bur ks@maiI.house .gov>;
(TREASURY)Muzinich , Justin <Justin.Muzinich@ t reasury .gov>; (WH) Knight, Shahira
Prater, Mark (Finance) <Mark_Prater@finance.senate.gov>;
Lawless, Julia Finance <Julia_Lawless@finance.senate.gov>; Khosla, Jay (Finance)
<Jay_ Khosla@finance.senate.gov>; Buck, Brendan <Brendan.Buck@mail.house.gov>
Subject: RE: Cat's out of the bag
Adding Buck.
From: Dunn, Brendan (McConnell)

Sent : Wednesday, July 26, 2017 11:19 AM
To: (W&M) Angus , Barbara <Barbara .Angus@mail.house .gov>; (RYAN) Callas, George
<George.Callas@mail.house.gov >; Ferrier, Antonia (McConnell)
<Antonia Ferrier@mcconnell.senate.gov >; Popp, David (McConnell)
<David Popp@mcconnell.senate.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate .gov>; (W&M) Stewart, David <David.Stewart@mail.house.gov >;
Stewart, Don (McConnell) <Don Stewart@mcconnell.senate .gov >; Marshall, Hazen (McConnell)

TREAS-17-0313-D-000062

 <Hazen Marshall@mcconnell.senate.gov >; Soderstrom, Sharon (McConnell)
<Sharon Soderstrom@mcconnell.senate.gov >; 'Burks, Jonathan' <Jonathan.Burks@mail.house.gov >;
(TREASURY)Muzinich, Justin <Justin.Muzinich@treasury.gov >; (WH) Knight, Shahira
Prater, M ark (Finance) <Mark Prater@finance.senate.gov >;
Lawless, Julia Finance <Julia Lawless@finance.senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >
Subject: Cat's out of the bag
I have j ust received 70 emails from reporters/staff/lobbyists
statement/plan tomorrow, with varying degrees of detail.

saying that we are releasing a

b(5)

Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader

TREAS-17-0313-D-000063

 RE: This afternoon's meetin
From:

"Knight, Shahira E. EOP/WHO"

To:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>, "Callas, George"
<george.callas@mail.house.gov>, "Muzinich, Justin" <justin.muzinich@treasury.gov>, "Dunn,
Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>, "Kowalski, Daniel"
<daniel.kowalski@treasury.gov>, "Angus, Barbara" <barbara.angus@mail.house.gov>

Date:

Wed, 26 Jul 2017 11:44:03 -0400

I think it got moved to 2.
From: Prater, Mark (Finance) [mailto:Mark_Prater@finance.senate.gov]

Sent: Wednesday, July 26, 2017 11:24 AM
To: Knight, Shahira E. EOP/WHO
Callas, George
<George.Callas@mail.house.gov>; Justin.Muzinich@treasury.gov; Dunn, Brendan (McConnell)
<Brendan_Dun n@mcconnell.senate.gov>; Daniel.Kowalski@tre asury.gov ; Angus, Barbara
<Barbara .Angus@ma ii .house.gov>
Subject; RE: Th is afternoon's meeting

From: Prater, Mark (Finance)
Sent: Tuesday, July 25, 2017 1:18 PM
To: 'Knight, Shahira E. EOP/WHO'
Callas, George
<George.Callas@mail.house.gov>; Justin.Muzinich@treasury.gov; Dunn, Brendan (McConnell)
<Brendan_Dun n@mcconnell.senate.gov>; Dan iel.Kowalski@treasury.gov; Angus, Barbara
<Barbara .Angus@ma ii .house.gov>
Subject: RE: This afternoon's meeting

In one of the two states where I practiced law, corporations sole were literally, in the case of an
abbey, the abbot.
From: Knight, Shahira E. EOP/WHO [mailto
Sent: Tuesday, July 25, 2017 1:14 PM
To: Callas, George <George.Callas@mail .house.gov >; Justin.Muzinich@treasury.gov ; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >; Daniel.Kowalski@treasury.gov : Angus, Barbara
<Barbara.Angus@mail.house.gov >; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >
Subject: RE: Th is afternoon's meeting

b(5)
From: Callas, George [mailto:George.Callas@mail.house.gov ]
Sent: Tuesday, July 25, 2017 1:11 PM
To: Knight, Shahira E. EOP/WHO
Justin.Muzinich@treasury.gov ;
Brendan Dunn@mcconnell.senate.gov ; Daniel.Kowalski@treasury.gov ; Angus, Barbara

<Barbara,Angus@mail
,house,goy>: Mark Prater@finance.senate.gov
Subject: RE: This afternoon's meeting
b(5)
From: Knight, Shahira E. EOP/WHO [mailto
Sent: Tuesday, July 25, 2017 1:11 PM
To: Justin.Muzinich@treasury.gov : Brendan Dunn@mcconnell.senate.gov :

TREAS-17-0313-D-000064

 Daniel.Kowalski@treasury.gov : Angus, Barbara; Mark Prater@finance.senate.gov : Callas, George
Subject: RE: This afternoon's meeting
I'm interested!
From : Justin. Muzin ich@treasury.gov [mailto:Justin. Muzin ich@treasury.gov ]

Sent : Tuesday, July 25, 2017 1:06 PM
To: Brendan Dunn@mcconnell.senate.gov ; Daniel.Kowalski@treasury.gov ; Knight, Shahira E.

EOP/WHO
Barbara.Angus@mail.house.gov ;
Mark Prater@finance .senate .gov; George .Callas@mail.house.gov
Subject: Re: This afternoon's meeting
b(5)

That sounds like a good plan. I agree with the idea of keeping this meeting t o an hour. Thanks very much.
Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225 .5522

If

>
Subject: RE: This afternoon's meeting

From : Daniel .Kowalski@treasury.gov [mailto:Daniel .Kowalski@treasury.gov ]
Sent : Tuesday, July 25, 2017 10:20 A M
To: Brendan Dunn@mcconnell.senate.gov ; Callas, George; =M~a=r~k----~~ ~ ~=~~~
Barbara; Justin.Muzinich@treasury.gov ;
Subject: RE: This afternoon's meeting

----~

Works for me. Sorry I missed yesterday.
From : Dunn, Brendan (McConnell) [mailto:Brendan Dunn@mcconnell.senate.gov ]
Sent : Tuesday, July 25, 2017 10:09 AM
To: (RYAN) Callas, George <George.Callas@mail.house.gov >; Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >; (W & M) Angus, Barbara <Barbara.Angus@mail.house.gov >;
Muzinich , Justin <Justin.Muzinich@treasury.gov >; Kowalski, Danie l <Daniel.Kowalski@treasury.gov >;

TREAS-17-0313-D-000065

 (WH) Knight, Shahira
Subject: This afternoons

meeting

I propose that we meet at 4 and try to keep it tight.
Proposed agenda:

1) b(5)
2)
3)
4)
Let me know if this works.

Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader

TREAS-17-0313-D-000066

 RE: m list of s ecific issues
From:

"Muzinich, Justin" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7e464fbd30ff8dbedefecb-muzinich,

To:

"Callas, George" <george.callas@mail.house.gov>

Date:

Wed, 26 Jul 2017 12:46:29 -0400

jus">

From: Callas, George <George .Callas@mail.house .gov>
Date: July 26, 2017 at 12:44:38 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury .gov>
Subject: RE: my list of specific issues

Quick thoughts?

From: Justin .Muzin ich@treasury.gov [ma ilto :Justin .Muzin ich@treasury.gov]
Sent: Wednesday, July 26, 2017 12:26 PM
To: Callas, George
Subject: RE: my list of specific issues

b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Wednesday, July 26, 2017 12:24 PM
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: my list of specific issues

]

George A. Callas
Senior Tax Counsel
Office of the Speaker
J\IVI

L

I

..1/\I

UST 000652
PVERSIGHT

TREAS-17-0313-D-000067

 UST 000653 TREAS-17-0313-D-000068

Re: Bi

issues

From:
To:

"Knight, Shahira E. EOP/WHO"

Cc:

"Angus, Barbara" <barbara.angus@mail.house.gov>, mark_prater@finance.senate.gov,
brendan_dunn@mcconnell.senate.gov, "Muzinich, Justin" <justin.muzinich@treasury.gov>,
"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Date:

Wed, 26 Jul 2017 13:01:17 -0400

"Callas, George" <george.callas@mail.house.gov>

I agree with this. Thanks.
On Jul 26, 2017, at 12:59 PM, Callas, George <George .Callas@mail.house .gov> wrote:

Hey everyone, after speaking with some of you and spending 30 minutes discussing with the Speaker
this morning, here is a list of policy issues that we think should be touched upon this evening. The
intent is not necessar"
·
·
·
resolve them quickly.
b(5)

George A. Callas
Senior Tax Counsel
Office of the Speaker

TREAS-17-0313-D-000069

 Big 6 -- Business Community Outreach Meetings
Where:

HVC 200

When:

Thu Jul 27 10:30:00 2017 (America/New_ York)

Until:

Thu Jul 27 14:00:00 2017 (America/New _York)

Organiser:

"Hickman , Bryan (Finance)"
<bryan_hickman@finance.sena te.gov>

Required Attendees:

"Limardo , Rick" <rick.limardo@mail.house.gov>
"Callas, George" <george.callas@mai l.house.gov>
"Kniqht , Shahira E. EOP/WHO"
>
ra er, ar
inance <mar _prater@finance .senate .gov>
"Angus , Barbara" <barbara .angus@ma il.house .gov>
"Stewart, David" <david.stewart@mail.house.gov>
"Dockery, Derrick" <derrick .dockery@mail.house .gov>
"Van Doren, Terry (McConnell)"
<terry_vandoren@mcconnell.senate .gov>
"Sifakis , George A. EOP/WHO"
>

Attachments:
Copy of Big Six Tax Reform Outreach-Final.xlsx
11.04 kB
Genera l Schedule :
10:30-11am - Large Trade Associations
11: 15-11 :45am - Small Business Groups
Noon-12:30pm - C-Corp Coalitions and a few individua l companies
12:45 to 1: 15 - Financial Services
1:30 to 2pm - Real Estate

TREAS-17-0313-D-000070

 A

B

C

White House

[Treasury

2

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t-

5 ABA-Larry Seyfried
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6 FSR-Anthony. Cimino/Jill. Hoffman ...................................................................................
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SIFMA-Dave .Oxner .and..Payson..PeabodY ....................................................................
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10 AFBF-Pat Wolff

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~

AMERICAN

UST 000657
PVERSIGHT

TREAS-17-0313-D-000072

 INVITATION: Meetin9 on Tax Reform
From:

"Limardo, Rick" <rick.limardo@mail.house.gov>

To:

"Limardo, Rick" <rick.limardo@mail.house.gov>

Cc:

"Hickman, Bryan (Finance)" <bryan_hickman@finance.senate.gov>

Date:

Wed, 26 Jul 2017 16:20:39 -0400

Good afternoon,
With August recess fast approaching, we thought it would be a good idea to bring together relevant
stakeholders to discuss the status of the ongoing tax reform efforts . We invite you to meet with House
Ways & Means Committee and Senate Finance staff. House and Senate leadership staff and
representatives from the administration will also likely be in attendance. We believe this meeting will
be timely and allow for an effective exchange of information going into these next few critical months.
The meeting will take place on Thursday, July 27 th (tomorrow) from 10:30am to 11:00amin HVC-200
of the Capitol.

NOTE: This invitation is transferrable only to a designee within your organization. Please do not
forward beyond that.
Please respond to this email to RSVP to the meeting. Also , feel free to call or email with any questions .

Rick Limardo
Coalitions Director
Committee on Ways and Means
202-225-3625

Bryan Hickman
Senior Counsel
U.S. Senate Committee on Finance
Majority Staff
(202)224-4515
bryan hickman@finance.senate.gov

AMERICAN
UST 000658
PVERSIGHT

TREAS-17-0313-D-000073

 Re: Next Ste s - Post Bi 6 Meetin
From :

"Angus,Barbara"<barbara.angus@mail.house.gov>

To:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>, "Khosla, Jay (Finance)"
<jay_khosla@finance.senate.gov>,"Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell
.senate.gov>,"Callas, George" <george.callas@mail.house.gov>,
"Burks,Jonathan"<jonathan.burks@mail.house.gov>,"Marshall,Hazen (McConnell)"
<hazen_marshall@mcconnell.senate.gov>,
"Stewart,David" <david.stewart@mail.house.gov>

Cc:

"Knight,Shahira E. EOP/WHO"
<justin.muzinich@treasury.gov>

Date:

Wed, 26 Jul 2017 16:52:54 -0400

, "Muzinich,Justin"

b(5)

Barbara M. Angus
Chief T ax Counsel
Committee on Ways and Means
202.225 .5522

From: Mark Prater <Mark Prater@finance.senate.gov
>
Date: Wednesday, July 26, 2017 at 4:00 PM
To: "Khosla, Jay (Finance)" <Jay Khosla@finance.senate.gov >, "Dunn, Bre ndan (McConnell)"
< Brendan Dunn@mcconnell.senate
.gov >, George Callas <George.Callas@mai l. house.gov >,
"Ang us, Barbara" < Barbara.Angus@mail.house.gov
>, "Burks, Jonathan"
<Jonathan ,Burks@majl,house .gov >, "Marshall, Hazen (McConnell)"
< Hazen Marshall@mcconnell.senate.gov
>, "Stewart, David"
< David.Stewart@mail.house.gov
>
Cc:"'Knight, Shahira E. EOP/W HO" '
" 'Justin.Muzinich@treasury.gov
"' <Justin.Muzinich@treasury.gov
>
Subject: RE:Next Steps - Post Big 6 Meeting
b(5)

The Hill: White House, GOP close to releasing joint tax-reform principles
BY NAOMI JAGODA - 07/26/17 01:27 PM EDT 109

The White House, congressional leaders and the chairmen of the tax-writing committees may release
joint tax-reform principles as soon as this week, according to lobbyists .
Speaker Paul Ryan (R-Wis.) told attendees at an event Tuesday at the Capitol Hill Club that the
unified tax-reform framework wou ld be unveiled later in the week, and that the House Ways and
Means Committee would then write legislation based on the principles, according to Hadar Susskind,
senior vice president of government relations at the Council on Foundations. A representative of
Susskind's group was at the event.
Tax reform is a top issue for the GOP, and policymakers have said they intend to enact legislation this
year. For the last several months, a group of lawmakers and administration officials known as the "Big
Six" have been meeting regularly to reach an agreement on a tax plan that the White House and
House and Senate Republicans can all support.
The members of the Big Six include Ryan, Senate Majority Leader Mitch McConnell (R-Ky.}, House
TREAS-17-0313-D-000074

 Ways and Means Committee Chairman Kevin Brady (R-Texas), Senate Finance Committee
Chairman Orrin Hatch(R-Utah), Treasury Secretary Steven Mnuchin and White House National
Economic Council Director Gary Cohn. The group is expected to meet again on Wednesday.
A tax lobbyist familiar with the issue said that the Big Six have reached an agreement on six taxreform principle s and are briefing congressional staff about the plan.

If the tax-reform principles are released this week, they would be ro lled out during the House's final
days in Washington before the August recess.
Susskind said the tax framework "has the potential to change some of the recess conversation" from
being mostly about healthcare to including tax -reform as well.
He said he expected that the plan would including keeping the charitable deduction, which is
maintained in the tax plans previously released by the White House and House Republicans.
However, he d id not expect the framework to go deep into issues of importance to the nonprofit
sector.
When asked Wednesday if the tax-reform principles would be released this week, Mnuchin said
"we're working very hard on continued details of the plan, and we look forward to releasing them
when we release them."
During a Senate Appropriations Committee hearing Wednesday, Mnuchin said he wants to simplify
the tax system so that fewer people need to cal l the IRS during the filing season.
He also said that policymakers' tax plan would be "responsib le" when it comes to the impact it would
have on the debt, and that transitioning to a "territorial" tax system that on ly taxes U.S. companies'
domestic earn ings is a "very, very, very high" priority.
###

From : Khosla, Jay (Finance)
Se nt : Wednesday, July 26, 2017 12:46 PM
To: Dunn, Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >; (RYAN) Callas, George

<George.Callas@mail.house.gov >; (W&M) Angus, Barbara <Barbara .Angus@mail.house.gov >; Prater,
Mark (Finance) <Mark Prater@finance .senate.gov >; 'Burks, Jonathan'
<Jonathan.Burks@mail.house.gov >; Marshall, Hazen (McConnell)
<Hazen Marshall@mcconnell.senate.gov
>; 'Stewart, David' <David.Stewart@mail.house.gov
>
Cc: 'Knight, Shahira E. EOP/WHO'
'Justin .Muzinich@treasury.gov '
<Justin. Muzi n ich@treasury.gov >
Subject : Next Steps - Post Big 6 Meeting

Hello all -

TREAS-17-0313-D-000075

  

Thankyou.

UST 000661 TREAS-17-0313-D-000076

RE: Bi Six business outreach
From :

''Van Doren, Terry (McCon nell)" <terry_vandoren@mcconnell.senate.gov>

To:

"Buck, Brendan" <brendan.buck@mail.house.gov>, "Dockery, Derrick"
<derrick.dockery@ mail.house.gov>, "Limardo, Rick" <rick .limardo@mai l.house.gov>, "Hickman,
!;k'ian (Finance)" <bIYan_hick man@finance.senate .gov>, "Sifakis, George A. EOP/WHO"
>, "Miller , Eli" <e li.miller@treasury.gov>,
, hosla, Jay (Finance)" <jay_khosla@finance.senate.gov>,
uzm1c , ustm <Justm.muzinich@treasury .gov>, "Althouse, Joshua"
<josh.a lthouse@mail.house .gov>, "Suares, Erica (McConnell)"
<erica_suares@mcconnell.senate.gov>,

Cc:

"Callas , George" <george.callas@mail.house.gov>, "Knight, Shahira E. EOP/WHO"
"Prater, Mark (Finance)" <mark_prater@finance.senate .gov>,
" ngus , ar ara < ar ara.angus@mail.house.gov>, "Stewart, David"
<david.stewart@mail.house.gov>, "Schillinger, Emily" <emily.schillinger@mail.house.gov>,
"Stewart, Don (McConnell)" <don_stewart@mcconnell.senate.gov>, "Ferrier , Antonia (McConnell) "
<antonia_ferrier@mcconnell.sena te.gov>, "Popp , David (McConnell)"
<david_popp@mcconnell.senate.gov>, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell .senate .gov>

Date :

Wed, 26 Jul 2017 19:37:53 -0400

Adding Stew, Antonia and Popp from our press team. And Brendan from the policy side .
From : Buck, Brendan [mailto:Brendan.Buck@ma

il.house.go v]

Sent : Wednesday, July 26, 2017 6:33 PM
To: Dockery, Derrick <Derrick.Dockery@mai l.house.gov>; Limardo, Rick
<Rick.Limardo@mail.house.gov>; Hickman, Bryan (Finance) <Bryan_Hickman@finance.senate.gov>;
Van Doren, Terry (McConnell) <Terry_ VanDoren@mcconnell.senate.gov> ; 'Sifakis, George A.
EOP/WHO'
·>; 'eli .m ille r@tr easury.gov' <eli.m ill er@tre asury.gov>;
•>; Khosla, Jay (Finance)
<Jay_ Khosla@fi na nee.senat e.gov>; 'Justin .Mu zin ich@t reasury .gov' <Justin .M uzi ni ch@treasu ry .gov>;
Althous e, Joshua <josh.althouse@mai l.hou se.gov>; Suares, Erica (McConne ll)
>
<Erica_Suares@mcconnell.senate.gov>;
'
Cc: Callas, Georg e <George.Ca llas@mail.house.gov>; 'Knight, Shahira E. EOP/WHO'
·; Prater, Mark (Finance) <Mark _Prater@finance.senate.gov>; Angus,
Barbara <Barbara.Angus@mail.house.gov>; Stewart, David <David.Stewart@mail.house.gov>;
Schillinger, Emily <Emily.Schillinger@mai l.house.gov>
Subject: Re: Big Six business outreach

b(5)

here's some proposed INTERNAL OJAto help guide those conversations .

TREAS-17-0313-D-000077

 Fro m : "Dockery, Derrick" <Derrick.Dockery@mail.house .gov>
Date : Wednesday, July 26, 2017 at 5:54 PM
To: "Limardo, Rick" <Rick.Limardo@mai l.house.gov >, "'Hickman, Bryan (Finance)"'

<Bryan Hickman@finance .senate.gov >, "'Van Doren, Terry (McConnell)'"
<Terry VanDoren@mcconne ll.senate.gov >, '"Sifakis, George A. EOP/WHO"'
>, " 'eli.miller@treasury.gov "' <eli.miller@treasury.gov >,
"'
, "'Khosla, Jay (Finance)'"
<Jay Khosla@finance.senate.gov >, "'Justin.Muzinich@treasury.gov '" <Justin.Muzinich@treasury.gov >,
"A lthouse, Joshua" <josh .althouse@ma il.house .gov>, "'Suares, Erica (McConnell)'"
<Erica Suares@mcconnell.senate.gov >, " "'
>
Cc: "Callas, George" <George.Callas@mail.house.gov >, '"Knight, Shahira E. EOP WHO"'
--- ,"Prater, Mark (Finance)"' <Mark Prater@fioance .senate .gov>,
"Angus, Barbara" <Barba ra,Angus@maj l.hou se.gov>, "Stewart, David"
<David.Stewart@mail.house.gov >, "Buck, Brendan" <Brendan.Buck@mail.house .gov>, Emily Schillinger
<Emily.Sch i 11
i nger@ma ii.ha use.gov >
Subject: RE: Big Six business outreach
Apologies for the disparate emails.
I was thinking we do a call tonight for those who won 't be able to join us for tomorrow 's meetings
and for our comms colleagues. Adding Buck (Speaker), Emily (W&M) . Please let your comms
colleagues know that we're having a call. Does 8:00 pm or 8:30 pm work for everyone? If those times
don 't work, we can push it back to 9:00 pm or do the call tomorrow morning.

TREAS-17-0313-D-000078

 Dial-in information below:
Dial-in: Ib(6)
Leader:
Participant: -

From : Limardo, Rick
Sent : Wednesday, July 26, 2017 4:57 PM
To: Dockery, Derrick; 'Hickman, Bryan (Finance)'; Van Doren, Terry (McConnel l); 'Sifakis, George A.

EOP/WHO'; 'eli.miller@treasury.gov ';
'; Khosla, Jay (Finance);
'Justin.Muzinich@treasury.gov '; Althouse, Joshua; 'Suares, Erica (McConne ll)';
Cc: Callas, George; Knight, Shahira E. EOP/WHO; Prater, Mark (Finance); Angus, Barbara; Stewart,
David
Subject: RE: Big Six business outreach

Derrick,
If not, a call today. Maybe we huddle up at 10am in HVC-200. I am open to either.
From: Dockery, Derrick

Sent: Wednesday, July 26, 2017 4:21 PM
To: Limardo, Rick; 'Hickman, Bryan (Finance)'; Van Doren, Terry (McConnell); 'Sifakis, George A.
EOP/WHO'; 'eli.miller@treasury.gov';
'; Khosla, Jay_(Finance);
'Justin.Muzinich@treasu~ .gov'; Althouse, os ua; uares, nca cConnell)';
Cc: Callas, George; Knigt, Shahira E. EOP/WHO; Prater, Mark (Finance); Angus, a ara;
Subject: RE: Big Six business outreach
Thank you, Rick and Bryan. Adding Josh Althouse (Speaker), Paul Teller (WH), and Erica Suares
(McConnell) for situational awareness .
I've blocked off time for us tomorrow from 10:00 am to 3:00 pm to conduct meetings in HVC-20O.
Please confirm if the meeting times below work for you or your office.
Is everyone okay or available to do a call tonight ahead of tomorrow's meeting? We can discuss our
approach to tomorrow's meetings and talk about setting up a weekly call. For everybody's
recollection, on Friday during our external relations meeting, Jon proposed we do a weekly call .
Derrick
From : Limardo, Rick
Sent : Wednesday, July 26, 2017 2:01 PM
To: Dockery, Derrick; 'Hickman, Bryan (Finance)'; Van Doren, Terry (McConnel l); 'Sifakis, George A.

EOP/WHO'; 'eli.miller@treasury.gov '; -- ; Khosla, Jay (Finance);
'Justin. Muzin ich@treasury.gov '
Cc: Callas, George; Knight, Shahira E. EOP/WHO; Prater, Mark (Finance); Angus, Barbara; Stewart,
David
Subject: RE: Big Six business outreach
Welp, cat is out of the bag.
b(5)

b(5)

TREAS-17-0313-D-000079

 -

Lastly, we suggest the following time slots w ith a venue :

Thanks and again feel free to chime in with any thoughts, concerns and suggestions. Want to make
sure all have the chance to weigh in and are good to go.
Rick Limardo
Coalitions Director
Committee on Ways and Means
202-225-3625

From: Dockery,Derrick

Sent: Monday, July 24, 2017 3:58 PM

To: 'Hickman,Bryan (Finance)'; Limardo, Rick; Van Doren,__Ifilry
_(McConnell);'Sifakis, GeorgeA.
EOP/WHO';'eli.miller@treasury.gov
';
'; Khosla,Jay (Finance);
'Justin.Muzinich@treasu
~ .gov
Cc: Callas,George; Knigt, Shahira E. EOP/WHO;Prater, Mark (Finance); Angus, Barbara
Subject: RE: Big Six businessoutreach
b(5)

Thoughts?
From: Hickman, Bryan (Finance)

[mailto:Bryan Hickmao@fioance.senate
.gov]

Sent: Monday, July 24, 2017 11:40 AM
TREAS-17-0313-D-000080

 To: Dockery, Derrick; Limardo, Rick; Van Doren, Terr'i.JMcConnell}; 'Sifakis, George A. EOP/WHO';

'eli.miller@treasury.gov ';
'; Khosla, Jay (Finance};
'Justin. Muzi n ich@treasury.gov '
Cc: Callas, George; Knight, Shahira E. EOP/WHO; Prater, Mark (Finance); Angus, Barbara
Subject : RE: Big Six business outreach
Thanks, Derrick.
The updated list looks pretty good to me at first glance. Like always, we'll have to make some
adjustments on the fly.
Rick and I can touch base offline to see how we want to organize and divide the labor among Finance
and W&M.
From : Dockery, Derrick [mailto:Derrick.Dockery@mail.house.gov ]
Sent : Monday, July 24, 2017 11:27 AM
To: Limardo, Rick <Rick.Limardo@mail.house.gov >; Van Doren, Terry (McConne ll)

<Terry VanDoren@mcconnell.senate.gov >; 'Sifakis, George A. EOP/WHO'
'.>; 'eli.miller@treasury.gov ' <eli.miller@treasury.gov >;
>; Khosla, Jay (Finance}
<Jay Khosla@finance.senate.gov >; Hickman, Bryan (Finance) <Bryan Hickman@finance.senate.gov >;
'Justin. Mu zi n ich@treasury.gov ' <Justin .M uzi n ich@treasury.gov >
Cc: Callas, George <George .Callas@mail.house .gov>; Knight, Shahira E. EOP/WHO
Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Angus,
Barbara <Barbara .Angus@mail.house .gov>
Subject: RE: Big Six business outreach
You're welcome, Rick. b(5)
Also, adding Justin from Treasury and Bryan at Finance.

b(5)

Please block off some time for meetings on Thursday and Friday, if you already haven't.
Thank you,
Derrick

From: Limardo, Rick
Sent: Monday, July 24, 2017 10:06 AM
To: Dockery, Derrick; 'Van Doren, Terry (McConnell)'; 'Sifakis, George A. EOP/WHO';

'el i.mi ller@treasury.gov ';
'; 'jay khosla@finance.senate.gov '
Cc: Callas, George; Knight, Shahira E. EOP WHO; 'Mark Prater@finance.senate.gov '; Angus, Barbara
Subject: RE: Big Six business outreach
Derrick,
Thanks for getting the ball rolling on this.
List looks good to me . Here are a few thoughts.

b(5)

TREAS-17-0313-D-000081

 b(5)

Thanks,

Rick Limardo
Coalitions Director
Committee on Ways and Means
202-225-3625

From: Dockery, Derrick

Sent: Friday, July 21, 2017 5:34 PM
To: Limardo, Rick; 'Van Doren, Terry (McConnell)'; 'Sifakis, George A. EOP/WHO'; 'eli.miller@treasury.gov ';
'; 'jay khosla@finance.senate.gov'
c: a as, eorge; mg , hahira E. EOP/WHO; 'Mark Prater@finance.senate.gov'; Angus, Barbara
Subject: Big Six business outreach
Col leagues,
It was great seeing each of you this mornin
that we're all in agreement that

b(5)

Have a good weekend!
Thank you,
Derrick Dockery
Business and Intergovernmental Coalitions Director
Office of the Speaker

(202) 226-3192

TREAS-17-0313-D-000082

 Comments on ·oint statement
From :
To:

"Knight , Shahira E. EOP/WHO"

Cc:

Brendan Buck <brendan.buck@mail.house .gov>, George Callas
<george.callas@mail.house.gov>, emily.schillinger@mail.house.gov, Barbara Angus
<barbara .angus@mai l.house .gov> , Brendan M. Dunn
<brendan_dunn@mcconnell .senate.gov>, Mark Prater
<mark_prater@finance .senate.gov> , jay _khosla@finance .senate .gov , "Marquis , Ashley"
>, "Muzinich , Justin " <justin.muzinich@treasury .gov> ,
reasury .gov>
>

Date:
Attachments:

Joint Statement on Tax Reform - WH 2100 .docx (20.32 kB); ATT00001.tx t (4 bytes)

All,
The Administration 's comments to the jo int statement are attached . Thanks to the House and Senate for
putting the draft together . Please let us know as soon as possib le if you have any concerns with these
edits. I know I don't have all of the communicators on this email , so please forward to the appropriate
people on your team s.
Many thanks ,
Shahira

TREAS-17-0313-D-000083

 Fwd: Big 6 -- Business Community Outreach Meetings
Where:

HVC 200

When:

Thu Jul 27 10:30:00 2017 (America/New_ York)

Until:

Thu Jul 27 14:00:00 2017 (America/New _York)

Organiser:

"Hickman, Bryan (Finance)"
<bryan_hickman@finance.senate.gov>

Required Attendees:

"Hickman, Bryan (Finance)"
<bryan_hickman@finance.senate.gov>
"Bailey, Bradley" <bradley.bailey@treasury.gov>
"Limardo, Rick" <rick.limardo@mail.house.gov>
"Callas, George" <george.callas@mail.house.gov>
"Kniqht, Shahira E. EOP/WHO"
" ra er, ar
inance <mar _prater@finance.senate.gov>
"Angus, Barbara" <barbara.angus@mail.house.gov>
"Stewart. David" <david.stewart@mail.house.gov>
"Dockery, Derrick" <derrick.dockery@mail.house.gov>
'Van Doren, Terry (McConnell)"
<terry_vandoren@mcconnell.senate.gov>
"Sifakis, George A. EOP/WHO"

Attachments:
Copy of Big Six Tax Reform Outreach-Final.xlsx
11.04 kB

From: Hickman, Bryan (Finance) <Bryan_Hickman@finance.senate.gov>
Date: July 27, 2017 at 10:30:00 AM EDT
To: Callas, George <George.Callas@mail.house.gov>, Angus, Barbara <Barbara.Angus@mail.house.gov>, 'Sifakis, George

A. EOP/WHO'

>, Miller, Eli <Eli.Miller@treasury.gov>,
1>,K os a, Jay Finance) <Jay_Khosla@finance.senate.gov>, Van Doren, Terry McConne ll)
<Terry_VanDoren@mcconnell.senate.gov>, 'Limardo, Rick' <Rick.Limardo@ma il.house .gov>, Stewart, David
<David.Stewart@mail.house.gov>, Knight, Shahira E. EOP/WHO
>, Prater, Mark
(Finance) <Mark _Prater@finance.senate.gov>, Dockery, Derrick <Derric .Doc ery@mai.
Subject: Big 6 -- Business Community Outreach Meetings

General Schedule:
10:30-11am - Large Trade Associations
11: 15-11 :45am - Small Business Groups
Noon-12:30pm - C-Corp Coalitions and a few individua l companies
12:45 to 1: 15 - Financial Services
1:30 to 2pm - Real Estate

TREAS-17-0313-D-000084

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TREAS-17-0313-D-000085

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AMERICAN

UST 000671
PVERSIGHT

TREAS-17-0313-D-000086

 Re: Comments on ·oint statement
From :
To:

"Buck, Brendan" <brendan.buck@mail.house.gov>
"Angus, Barbara" <barbara.angus@mail.house.gov>, "Prater, Mark (Finance)"
<mark_prater@finance.senate.gov>, "Knight, Shahira E. EOP/WHO"
• "Callas, George" <george .callas@mail.house.gov>,
" c I inger, mI y <em, y.sc I inger@mail.house .gov>, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell.senate.gov>, "Khosla , Ja (Finance)"
<jay_khosla@finance .senate .gov>, "Marquis, Ashley"
>,
"Muzin ich, Justin" <just in.muzinich@treasury.gov>, "Sayeg ,
<tony.sayegh@treasury.gov>

Cc:

"Ditto , Jessica E. EOP/WHO"

Date :

Thu, 27 Jul 2017 06:10:56 -0400

Attachments:

Joint Statement on Tax Reform - WH 2100 edits BB.docx (16.35 kB)

>

On 7/27/17, 12:12 AM, "Angus, Barbara" <Barbara.Angus@mail.house.gov> wrote :
I

>Following up on my earlier message , a couple of additional comments from us.
>

>
>Thanks very much .
>
>Barbara M. Angus
>Chief Tax Counsel
>Committee on Ways and Means
>202.225.5522
>
>
>

>
>
>
>On 7/26/17, 10:05 PM, "Prater, Mark (Finance)" <Mark_Prater@finance.senate .gov> wrote:
>
>>Thanks,Shahira.
>>
>>We're looking this over too.
>>
b(5)

TREAS-17-0313-D-000087

 >>

>>-----Original Message---->>From: Angus, Barbara [mailto:Barbara.Angus@mai l.house.gov)
>>Sent: Wednesday, July 26, 2017 9:51 PM
>>To: Knight , Shahira E. EOP/WHO
; Buck , Brendan
<Brendan.Buck@mail.house.gov>; Ca as, eorge < eorge. a as mail.house.gov>; Schillinger , Emily
<Emily.Schillinger@mail.house.gov>; Dunn, Brendan (McConnell)
<Brendan_Dunn@mcconnell.senate.gov> ; Prater , Mark (Finance) <Mark_Prater@finance.senate.gov> ;
Khosla. Jay (Finance) <Jay Khosla@finance .senate.gov>; Marquis, Ashley H. EOP/WHO
>; Justin Muz inich <Justin.Muzinich@treasury .gov>; Tony .
ayeg
treasury . gov < ony . ayeoh@treasurv .oov>
>>Cc : Ditto, Jessica E. EOP/WHO
!>
>>Subject: Re: Comments on joint statement
>>
>>Thanks for sharing this, Shahira.
b(5)

>>Happy to discuss. Thanks very much .
>>
>>Barbara M. Angus
>>Chief Tax Counsel
>>Committee on Ways and Means
>>202.225.5522
>>
>>
>>
>>
>>
>>
>>
wrote :
>>On 7/26/17, 9:33 PM , "Knight, Shahira E. EOP/WHO"
>>
>>>
>>>All,
>>>
>>> The Admin istrat ion's comments to the joint statement are attached. Thanks to the House and Senate
for putting the draft together. Please let us know as soon as possible if you have any concerns with these
edits . I know I don't have all of the communicators on this email , so please forward to the appropriate
people on your teams.
>>>
>>>Many thanks,
>>>Shahira

TREAS-17-0313-D-000088

 RE: INVITATION: Tax Reform Meetin
From :
To :

"Guaglianone, Paul" <paul.guaglianone@mail.house.gov>

Date :

Thu , 27 Jul 2017 09:35:24 -0400

"Muzinich, Justin" <justin.muzinich@treasury.gov>

From: Justin.Muzinich@treasury.gov [mailto :Justin.Muzinich@treasury.gov]

Sent: Th ursday, July 27, 2017 8 :53 AM
To: Guaglianone, Paul
Subject: RE: INVIT ATI ON: Tax Reform Meeting
b(5)
I

From : Guaglianone, Paul [mailto:Paul.Guaglianone@mail.house.gov
Sent : Thursday, July 27, 2017 8:46 AM
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: RE: INVITATION: Tax Reform Meeting

)

Thanks. I will add your name to the list for security.

From: Justin.Muzinich@treasury.gov [mailto:Justin.Muzinich@treasury.gov]

Sent: Thu rsday, July 27, 2017 8:44 AM
To: Guaglianone, Paul
Subject: RE: I NVITATI ON: Tax Reform Meeting
Thanks. I will be there. Do I need to be cleared in?
From: Guaglianone, Paul [mailto:Paul.Guaglianone@mail.house.gov )
Sent : Thu rsday, July 27, 2017 8:16 AM
To: Limar do, Rick <Rick.Limardo@mail.house.gov >; 'Bryan_ Hickman@finance.senate.gov'
<Bryan Hickman@finance.senate.gov >; Althouse, Joshua <josh.althouse@mail.house.gov >;
'Erica_Suares@mcconnell.senate.gov' <Erica Suares@mcconnell.senate.gov >;
Muzin ich, Justin
<Justin.Muzinich@treasury.gov >
Subject: RE: INVITATION: Tax Refor m M eeting

RSVPsfor Conservative 10:30am
Chrissy Harbin - Americans for Prosperity
Jason Pye - FreedomWorks
Adam Brandon - FreedomWorks
Alex Hendrie - Americans for Tax Reform
Brandon Arnold - NTU
Erin Adams - RGA
Kyle Pomerleau - Tax Foundation
Scott Hodge -Tax Foundation
David Christensen - Family Research Council
TREAS-17-0313-D-000089

 Palmer Schoening- Family Business Coalition
Ryan Ellis - Family Business Coalition
Adam Michel - Heritage Foundation
Dan Ziegler - Heritage Action
Rachel Cole - Citizens Against Government Waste
Patrick Purtill - Faith And Freedom Coalition
Tim Head - Faith and Freedom Coal ition
Jackie Anderson -Amer ican Conservative Union

From: Guaglianone, Paul

Sent: Wednesday, July 26, 2017 5:14 PM
To: Guaglianone, Paul
Cc: Limardo, Rick; 'Bryan_Hickman@finance.senate.aov': Alt house, Joshua;
'Erica_Suares@mcconnell.senate.gov';
'; 'Justin .Muzinich@treasury.gov'
Subject: I NVITATION: Tax Reform ee mg
Good afternoon - W ith August recess fast approaching, we thought it wou ld be a good idea to bring
together relevant stakeholders to discuss the status of the ongoing tax reform efforts. We invit e you
to meet w ith House Ways & Means and Senate Finan ce Committee staff. House and Senate
leader ship staff and repre sentativ es from the Admini stration will also likely be in attendanc e. We
believe this meeting will be timely and allow for an effect ive exchange of information going into these
next few critical months .
The meet ing will take place on Thursday, July 27th (tomorrow) at 10:30am in H-137 of the Capitol.

NOTE: This invitation is tran sf errabl e only to a design ee within your organization . Plea se do not
forward beyond that.
Please respo nd to thi s email to RSVPto the meetin g. Also, fee l free to call or email with any
questions or concerns.

Thank you,
Paul Guaglianone I Coalitions Coordinator
Committee on Ways and Means
(202)225-6649

TREAS-17-0313-D-000090

 Q/A
From :

"Buck, Brendan" <brendan.buck@mail.house.gov>

To:

"Dockery, Derrick" <derrick.dockery@mail.house .gov>, "Limardo, Rick"
<rick.limardo@mail.house.gov>, "Hickman, Bryan (Finance)"
<bryan_hickman@finance .senate.gov>, "Van Doren, Terry (McConnell)"
<terrv vandoren@mcconnell.senate.gov>, "Sifakis, George A. EOP/W HO"
>, "Miller, Eli" <eli.miller@treasury .gov>,
, uzinich , Just in" <justin .muzinich@treasury .gov>, "Althouse ,
os ua <Jos .a ouse mail.house .gov>. "Suares. Erica (McConnell)"
<erica_suares(@.mcconnell.senate.Qov>,
·, "Knight, Shahira E.
EOP/W HO"
,
<george.callas ma1. ouse.gov> , ren an . Dunn <brendan _dunn@mcconnell. senate .gov>,
Mark Prater <mark orater@finance.senate.gov> , jay _khosla@finance .senate.gov, "Marquis,
Ashley''
>, "Sayegh, Tony" <tony.sayegh@treasury.gov>,
"Angus, ar ara < ar ara.angus ma1. ouse.gov>, antonia_ferrier@mcconnel l.senate.gov,
don_stewart(@.mcconnell.senate.gov, "Strong , Ashlee" <ashlee.strong@mail.house.gov>,
·, julia_lawless@finance. senate .gov, "Buck , Brendan"
.ma1. ouse.gov>, "Schillinger, Emily" <emily.schillinger@mai l.house.gov> ,
"Andres. Doug" <doug .andres@mail.house .gov> . "Ricci. Michae l"
ma1. ouse.gov>

Date:

Thu, 27 Jul 2017 14:43:10 -0400

Hi everyone. Just recirculating this if its helpful, with one edit, for our internal purposes. Hope everyone's
meetings went well today .

TREAS-17-0313-D-000091

  

UST 000677 TREAS-17-0313-D-000092

Re: No tax reform workin

meetin

?

From :

"Angus, Barbara" <barbara.angus@mail.house.gov>

To:

"Mackie, James Ill" <james .mackie@treasury .gov>, "Muzinich, Justin"
<justin.muzinich@treasury.gov>, mark_prater@finance.senate.gov , "Kowalski, Daniel"
<daniel.kowalski@treasury .gov>, "Callas, George" <george.callas@mail.house.gov>
"Bailey, Bradley" <bradley .bailey@treasury.gov> ,
ren an_ unn mcconne .senate.gov, "West, Thomas" <thomas.west@treasury .gov>

Cc:

Date :

Mon, 31 Jul 2017 08:04:02 -0400

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225 .5522

From: "James.Mack ie@treasury.gov " <James.Mackie@treasury.gov >
Date: Saturday, July 29, 2017 at 2:23 PM
To: "Just in.Muzin ich@treasury.gov " <Justin.Muzin ich@treasury.gov >, Mark Prater
<Mark Prater@finance.senate.gov >, " Daniel.Kowalski@treasury.gov "
<Dan iel.Kowalski@treasury.gov >, George Callas <George.Callas@mai l.house.gov >
Cc:"
"Angu s, Barbara"
<Barbara.Angus@mail.house.gov >, " Bradley.Bailey@treasury.gov "
<Bradley.Bailey@treasury.gov >, " Brendan Dunn@mcconnell.senate.gov "
<Brendan Dunn@mcconnell.senate.gov >, "Thomas.West@treasury.gov "
<Thom as.West@trea s u ry. gov>
Subject: RE: No tax reform working group meeting today ?

From: Muzinich,Justin

Sent: Saturday, July 29, 2017 7:40 AM
To: Prater, Mark (Finance); Kowalski, Daniel; Callas,George
Cc: Knight, Shahira E. EOP/WHO;Angus, Barbara; Bailey, Bradley; Dunn, Brendan (McConnell);West,
Thomas; Mackie, James III
Subject: RE: No tax reform working group meeting today?

b(5)

TREAS-17-0313-D-000093

 Depending on where we are on Monday can set up sub group too.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >

Date: July 28, 2017 at 2:37:08 PM EDT
To: Callas, George <George.Callas@mail.house.gov >, Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >
Cc:West, Thomas <Thomas.West@treasury.gov >, Knight, Shahira E. EOP/WHO
Angus, Barbara <Barbara.Angus@mail.house.gov >,
Muzinich, Justin <Justin.Muzinich@treasury.gov >, Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >, Mackie, James Ill <James.Mackie@treasury.gov >,
Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: No tax reform working group meeting today?
If this an invitation to happy hour today at the Irish Times, I'm in. I just finished my last meeting of
the week, and it has seemed to be a long one. 4:00 work for folks?
From: Callas, George (mailto:George.Callas@mail.house.gov ]
Sent: Friday, July 28, 2017 2:04 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >

Cc: Knight, Shahira E. EOP/WHO
Kowalski, Daniel
<Daniel.Kowalski@treasury.gov >; Muzinich, Justin <Justin.Muzinich@treasury.gov >; Angus, Barbara
<Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Mackie, James Ill <James.Mackie@treasury.gov >; Bailey,
Bradley <Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today?

b(5)
On Jul 28, 2017, at 1:55 PM, Prater, Mark (Finance) <Mark Prater@finance.senate.gov > wrote:

b(5)

You can bet that a

tasty pint of Murphy's Stout or Guinness is properly primed.
From: Callas, George [mailto:George.Callas@mail.house.gov ]
Sent: Friday, July 28, 2017 1:29 PM
To: 'Knight, Shahira E. EOP/WHO'
<Mark Prater@finance.senate.gov
>; Daniel.Kowalski@treasury.gov

Prater, Mark (Finance)
;

Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

b(5)
I

From: Knight, Shahira E. EOP/WHO mailto
Sent: Friday, July 28, 2017 1:26 PM
To: Prater, Mark (Finance); Callas, George; Daniel.Kowalski@treasury.gov ;

Justin.Muzinich@treasury.gov : Angus, Barbara; Dunn, Brendan (McConnell)
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

b(5)

TREAS-17-0313-D-000094

 From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 1:23 PM
To: Callas, George <George.Callas@mail.house.gov >; Knight, Shahira E. EOP/WHO

>; Daniel.Kowalski@treasury.gov ; Justin.Muzinich@treasury.gov ;
Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting toda y?
Think we need to continue this discussion at the Irish Times with a pen, napkins, and pitchers of
ale (hopefully, Guinness or Murphy's stout and not what Sen. Packwood and Mr. Diefenderfer
were drinking).
From : Callas, George [mailto:George.Callas@mail.house.gov
Sent : Friday, July 28, 2017 1:17 PM
To: 'Knight, Shahira E. EOP/WHO'

]

Daniel.Kowalski@treasury.gov : Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;
Justin.Muzinich@treasury.gov : Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate .eov >
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

-

From : Knight, Shahira E. EOP/WHO mailto
Sent : Friday, July 28, 2017 1:17 PM
To: Danjel,Kowalski@treasury .gov : Mark Prater@fioance .senate .gov; Callas, George;

Justin.Muzinich@treasurv.gov ; Angus, Barbara; Brendan Dunn@mcconnell.senate .gov
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting toda y?

From: Daniel.Kowalski@treasury.gov [ mailto:Daniel.Kowalski@treasu ry.gov]
Sent : Friday, July 28, 2017 1:04 PM
To: Mark Prater@finance.senate.gov ; George.Callas@mail.house.gov ;

Justin.Muzinich@treasury.gov ; Barbara.Angus@mail.house.gov ;
Brendan Dunn@mcconnell.senate.gov ; Knight, Shahira E. EOP/WHO
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

TREAS-17-0313-D-000095

 b(5)
From : Prate r, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 12:34 PM
To: Callas, George <George.Callas@mail.house.gov >; M uzinich, Justin

<Justin.Muzinich@treasury.gov >; Angus, Barbara <Barbara.Angus@mail.house.gov >; Kowalski,
Daniel <Daniel.Kowalski@treasury.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: M ackie, James Ill <James.Mackie@treasury.gov >; Bailey, Bradl ey
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: RE: No tax reform working group meeting today?
b(5)

From : Callas, George [mailto:George.Callas@mail.house .gov]
Sent : Friday, July 28, 2017 12:26 PM
To: Prater , Mark (Finance) <Mark Prater@finance .senate .eov >; Justin .Muzinich@treasury

.eov :

Angus, Barbara <Barbara.Angus@mail.house.gov >; Daniel.Kowalski@treasury.gov : Dunn,
Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

-

From : Prater, Mar k (Finance) fmailto :Mark Prater@fjnance .senate .gov]
Sent : Friday, July 28, 2017 12:23 PM
To: Justin.Muzinich@treasury.gov ; Angus, Barbara; Daniel.Kowalski@treasury.gov ; Callas, George;

Dunn, Brendan (McConnell) ;
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?
FYI .. Laura Saunders piece on TPC already trying to fill in the blanks, like they did in August of
2012, on the Romney plan.
>>https ://www .wsj.com/a rti cles/b ad-news-if-you -ma ke-150-000-to -300-000-h igher -taxes-for m a ny-1501234200<<:

TREAS-17-0313-D-000096

 From: Justin.Muzinich@treasury.gov
[mailto:Justin.Muzinich@treasury.gov ]
Sent: Thursday, July 27, 2017 1:05 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Barbara.Angus@mail.house.gov ;

Daniel.Kowalski@treasury .gov; George.Callas@mail.house.gov ; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

Correct.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: Muzinich, Justin <Justjn.Muzjnjch@treasury .gov>, Mark Prater

<Mark Prater@Finance.senate.gov >, Barbara.Angus@mail.house.gov
<Barbara.Angus@mail.house.gov >, Shahira Knight
>,
George Callas <George.Callas@mail.house.gov >, Brendan Dunn
(Brendan Dunn@mcconnell.senate.gov ) <Brendan Dunn@mcconnell.senate.gov >
Cc:West, Thomas <Thomas.West@treasury.gov >, Mackie, James Ill
<James.Mackie@treasury.gov >, Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: No tax reform working group meeting today?
I have assumed that there will not be a tax reform working group meeting today because the
vote -a-rama in the Senate. Is that a correct assumption?
Meet next on Monday , July 31 at 4 :00 somewhere on the Hill to continue with b(5)
Thanks.

TREAS-17-0313-D-000097

 Individual
From :

"Angus, Barbara" <barbara.angus@mail.house.gov>

To:

"Mackie, James Ill" <james .mackie@treasury .gov>, "Muzinich, Justin"
<justin.muzinich@treasury.gov>, mark_prater@finance.senate.gov , "Kowalski, Daniel"
<daniel.kowalski@treasury .gov>, "Callas, George" <george.callas@mail.house.gov>
"Bailey, Bradley" <bradley .bailey@treasury.gov> ,
ren an_ unn mcconne .senate.gov, "West, Thomas" <thomas.west@treasury .gov>

Cc:

Date :

Mon, 31 Jul 2017 08:14:17 -0400

b(5)

Barbara M. Angus
Chief T ax Counsel
Comm ittee on Ways and Means
202.225.5522

From: "Angu s, Barbara" <Barbara.Angus@mail.house.gov >

Date: Monday, July 31, 2017 at 8:04 AM
To: "James.Mackie@treasury.gov " <James.Mack ie@treasury.gov >,
"Justin.Muzinich@treasury.gov " <Justin.Muzinich@treasury.gov >, Mark Prater
<Mark Prater@finance.senate .gov>, " Daniel.Kowalski@treasury .gov"
<Daniel.Kowalski@treasury.gov >, George Callas <George.Callas@mail.house.gov >
Cc:"
" Bradley.Bailey@treasury.gov " <Bradley.Bailey@treasury.gov >,
" Brendan Dunn@mcconnell.senate.gov " <Brendan Dunn@mcconnel l.senate.gov >,
"Thomas.West@treasury.gov " <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today ?

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522

From: "James.Mackie@treasury.gov " <James.Mackie@treasury.gov >

Date: Saturday, July 29, 2017 at 2:23 PM
To: "Justin.Muzinich@treasury.gov " <Justin.Muzinich@treasury.gov >, Mark Prater
<Mark Prater@finance .senate.gov >, " DanieLKowalski@treasury.gov "
<Daniel.Kowalski@treasury.gov >, George Callas <George.Callas@mai l.house.gov >
Cc:"
"Angus, Barbara"
<Barbara.Angus@mail.house.gov >, " Bradley.Bailey@treasury.gov "
<Bradley.Bailey@treasury.gov >, " Brendan Dunn@mcconnell.senate.gov "
<Brendan Dunn@mcconnell.senate.gov >, "Thomas.West@treasury.gov "

TREAS-17-0313-D-000098

 <Thomas.West@treasury.gov >
Subject: RE: No tax reform working group meeting today?

From: Muzinich,Justin

Sent: Saturday, July 29, 2017 7:40 AM

To: Prater, Mark (Finance); Kowalski, Daniel; Callas,George
Cc: Knight, Shahira E. EOP/WHO;Angus, Barbara; Bailey, Bradley; Dunn, Brendan (McConnell);West,
Thomas; Mackie,James III
Subject: RE: No tax refonn working group meeting today?
b(5)

Depending on where we are on Monday can set up sub group too.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Date: July 28, 2017 at 2:37:08 PM EDT
To: Callas, George <George.Callas@mai l.house.gov >, Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >
Cc:West, Thomas <Thomas.West@treasury.gov >, Knight, Shahira E. EOP/WHO
Angus, Barbara <Barbara.Angus@mail.house.gov >,
Muzinich, Just in <Justin.Muzinich@treasury.gov
>, Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >, Mackie, James Ill <James.Mackie@treasury.gov
Bailey, Bradley <Bradley.Bailey@treasury .gov >
Subject: RE: No tax reform working group meeting today?

>,

If this an invitation to happy hour today at the Irish Times, I'm in. I just finished my last meeting of
the week, and it has seemed to be a long one. 4:00 work for folks?
From: Callas, George fmailto:George .Callas@mail.house .gov]
Sent: Friday, July 28, 2017 2:04 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >
Cc: Knight, Shahira E. EOP/WHO
Kowalski, Daniel
<Daniel.Kowalski@treasury.gov >; Muz inich, Justin <Justin .Muzinich@treasury.gov >; Angus, Barbara
<Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Mackie, James Ill <James.Mackie@treasury.gov >; Bailey,
Bradley <Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today?

b(5)

On Jul 28, 2017, at 1:55 PM, Prater, Mark (Finance) <Mark Prater@finance .senate.gov > wrote:
But is a prime number and a critical step in proper ale production is priming.
tasty pint of Murphy's Stout or Guinness is properly primed.

You can bet that a

TREAS-17-0313-D-000099

 From : Callas, George (mailto:George.Callas@mail.house
Sent : Friday, July 28, 2017 1:29 PM
To: 'Knight, Shahira E. EOP/WHO'

.gov]

Prater, Ma rk (Finance)
<Mark Prater@finance.senate.gov >; Daniel.Kowalski@treasury.gov ;
Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

b(5)
I

From : Knight, Shahira E. EOP/WHO mailto
Sent : Friday, July 28, 2017 1:26 PM
To: Prater, Mark (Finance); Callas, George; Daniel.Kowalski@treasury.gov ;

Justin.Muzinich@treasury.gov ; Angus, Barbara; Dunn, Brendan (McConnel l)
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject : RE: No tax reform working group meeting today?

b(5)
From : Prater, Mark (Finance) [mailto :Mark Prater@finance.senate.gov ]
Se nt : Friday, July 28, 2017 1:23 PM
To: Callas, George <George.Callas@mail.house.gov >; Knight, Shahira E. EOP/WHO

>; Daniel .Kowalski@treasury.gov ; Justin .Muzinich@treasury.gov ;
Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >
c c: James
,Mackie@treasury
.gov: Bradlev.Bailev@treasurv
.gov; Jhomas.West@treasury
,goy
Subje ct: RE: No tax reform working group meeting today?

Think we need to continue this discussion at the Irish Times with a pen, napkins, and pitchers of
ale (hopefully, Guinness or Murphy's stout and not what Sen. Packwood and Mr. Diefenderfer
were drinking).
From: Callas, George (mailto:George.Callas@mail.house.gov
Sent : Friday, July 28, 2017 1:17 PM
To: 'Knight, Shahira E. EOP/WHO'

]

Daniel.Kowalski@treasury .gov; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;
Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject : RE: No tax reform working group meeting today?

-

From : Knight, Shahira E. EOP/WHO mailto
Se nt : Friday, July 28, 2017 1:17 PM
To: Daniel.Kowalski@treasury.gov ; Mark Prater@finance.senate .gov ; Callas, George;

Justin.Muzinich@treasury.gov ; Angus, Barbara; Brendan Dunn@mcconnell.senate .gov
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subj ect: RE: No tax reform working group meeting today?

b(5)

From : Daoiel.Kowalski@treasury.gov
(majlto:Daniel,Kowalski@treasu
ry,gov]
Sent : Friday, July 28, 2017 1:04 PM

TREAS-17-0313-D-000100

 >
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 12:34 PM
To: Callas, George <George.Callas@mail.house.gov >; Muzinich, Justin

<Justin.Muzinich@treasury.gov >; Angus, Barbara <Barbara.Angus@mail.house.gov >; Kowalski,
Danie l <Daniel.Kowalski@treasury.gov >; Dunn, Brendan (McConnell) __
<Brendan Dunn@mcconnell.senate.gov >;
Cc: M ackie, James Ill <James.Mackie@treasury.gov >; Bailey, Brad ley
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: RE: No tax reform working group meeting today?
b(5)

From : Callas, George [mailto:George.Callas@mail.house.gov ]
Sent : Friday, July 28, 2017 12:26 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Justin.Muzinich@treasury.gov
Angus, Barbara <Barbara.Angus@mail.house.gov
>; Daniel.Kowalski@treasury.gov
: Dunn,

:

Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

From : Prater , Mark (Finance) [mailto :Mark Prater@fjnance .senate .gov]
Se nt : Friday, July 28, 2017 12:23 PM
To : Justjn .Muzioicb@treasury .gov; Angus, Barbara; Danjel,Kowalski@treasury .gov; Callas, George;

Dunn, Brendan (McConnell);
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas,West@treasury.gov
Subject: RE: No tax reform working group meeting today?
FYI .. Laura Saunders piece on TPC already trying to fill in the blanks, like they did in August of
2012, on the Romney plan.

TREAS-17-0313-D-000101

 >>https ://www.wsj.com/a
m a ny-1501234200<<:

rti cles/b ad -news -if-you - ma ke- 150-000 -to -300 -000 -h igher -taxes -for -

From: Justin.Muzinich@treasury.gov
[mailto:Justin.Muzinich@treasury.gov
]
Sent: Thursday, July 27, 2017 1:05 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Barbara.Angus@mail.house.gov
Daniel.Kowalski@treasury .gov; George.Callas@mail.house.gov ; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

;

Correct.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >, Mark Prater

<Mark Prater@Finance.senate.gov >, Barbara.Angus@mail.house.gov
<Barbara.Angus@mail.house.gov >, Shahira Knight
>,
George Callas <George.Callas@mail.house.gov >, Bren an Dunn
(Brendan Dunn@mcconnell.senate.gov ) <Brendan Dunn@mcconnell.senate.gov >
Cc: West, Thomas <Thomas.West@treasury.gov >, Mackie, James Ill
<James.Mackie@treasury.gov >, Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: No tax reform working group meeting today?
I have assumed that there will not be a tax reform working group meeting today because the
vote-a-rama in the Senate. Is that a correct assumption?
Meet next on Monday, July 31 at 4:00 somewhere on the Hill to continue with b(5)
Thanks.

TREAS-17-0313-D-000102

 Re: Meetin on individual tomorrow?
From :

"Callas, George" <george.callas@mail.house.gov>

To:

"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>

Cc:

"Angus, Barbara" <barbara.angus@mail.house.gov>, "Mackie, James Ill"
<james.mackie@treasury.gov>, "Kowalski, Daniel" <dan iel.kowalski@treasury.gov> , "Prater, Mark
(Finance)" <mark_prater@finance.senate.gov> , "Muzinich, Justin"
<justin.muzinich@treasury .gov>,
"Bailey, Bradley"
<bradley.bai ley@treasury.gov>, '
treasury .gov>

Date :

Mon, 31 Jul 2017 10:26:43 -0400

My email was supposed to be responding to Barbara on his chain. Got my chains mixed up.
On Jul 31, 2017, at 10:24 AM, Dunn, Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >
wrote:

work s

Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader
From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov ]
Sent: Monday, July 31, 2017 10:12 AM
To: James.Mackie@treasury.gov ; Callas, Georg e <George.Callas@mail.house.gov >;

Daniel.Kowalski@treasury.gov
Cc: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Justin.Muzinich@treasury.gov ; Dunn,
Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >;
Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: M eet ing on individual tomorrow?

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From : "James. Mackie@treasury.gov " <James.Mackie@treasury.gov >
Date: Monday, July 31, 2017 at 9:51 AM
To: George Callas <George.Callas@mail.house.gov >, " Daniel.Kowalski@treasury.gov "

<Daniel.Kawalski@treasury
.gov>
Cc: Mark Prater <Mark Prater@finance .senate.gov >, "Justin.Muzinich@treasury.gov "
<Justin .Muzin ich@treasury.gov >, "Angus, Barbara " <Barbara.Angus@mail.house.gov >,
" Brendan Dunn@mcconnell.senate .gov" <Brendan Du nn@mcconnelI.senate.gov >,
I"
>, "Bradley.Bailey@treasury.gov "
<Bradley.Bailey@treasury.gov >, "Thomas.West@treasury .gov" <Thomas.West@treasury.gov >
Subject: RE: No tax reform working group meet i ng today?

TREAS-17-0313-D-000103

 b(5)
I

From : Callas, George fmailto:George.Ca llas@mail.house.gov )
Sent : Monday, July 31, 2017 7:58 AM
To: Kowalsk i, Daniel <Daniel.Kowalski@treasury.gov >

Cc: Mark Prater@finance.senate.gov ; Muzin ich, Justin <Justin.Muzinich@treasury.gov >; Angus,
Barbara <Barbara.Angus@mail.house.gov >; Brendan Dunn@mcconnell.senate.gov ;
M ackie, James Ill <James.Mackie@treasury.gov >; Bailey, Bradl ey
<Brad ley.Bailey@treasury .gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today?

Are we meeting today? I would assume yes only if someone has something to report on b(5)

On Jul 28, 2017, at 1:04 PM, " Daniel.Kowalski@treasury.gov " <Daniel.Kowa lski@treasury.gov > wrote:

From: Prate r, M ar k (Finance) fmailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 12:34 PM
To: Callas, George <George.Callas@mai l.house.gov >; M uzinich, Justin

<Justin.Muzinich@treasury.gov >; Angus, Barbara <Barbara.Angus@ma il.house.gov >; Kowalski,
Danie l <Daniel.Kowalski@treasury.gov >; Dunn, Brendan (McConnell)
<Brendan Dun n@mccon nel I.senate.gov >;
Cc: M ackie, James Ill <James.Mackie@treasury.gov >; Bailey, Brad ley
<Brad ley.Bailey@treasury .gov>; West, Thom as <Thomas.West@treasury .gov >
Subject: RE: No tax reform working group meeting today?

b(5)

From : Callas, George fmailto:George.Callas@mail.house.gov )
Sent : Friday, July 28, 2017 12:26 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Justin.Muzinich@treasury.gov

:

Angus, Barbara <Barbara.Angus@mail.house.gov >; Daniel.Kowalski@treasury.gov : Dunn,
Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov ; Bradley.Bai ley@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting toda y?

TREAS-17-0313-D-000104

 From: Prater, Mark (Finance) [mailto :Mark Prater@finance.senate.gov ]
Sent: Friday, July 28, 2017 12:23 PM
To: Justin.Muzinich@treasury.gov ; Angus, Barbara; Daniel.Kowalski@treasury.gov ; Callas, George;

Dunn, Brendan (McConnell);
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?
FYI .. Laura Saunders piece on TPC already trying to fill in the blanks, like they did in August of
2012, on the Romney plan.
ht t ps ://www .wsj.com/a rti cles/b ad-news-if-you-ma ke-150-000-to-300-000-h igher-taxes-for-ma ny-

1501234200

From: Justin.Muzinich@treasury.gov [mailto:Justin.Muzinich@treasury.gov ]
Sent: Thursday, July 27, 2017 1:05 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Barbara.Angus@mail.house.gov ;

Daniel.Kowalski@treasury .gov : George.Callas@mail.house.gov : Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform working

group meeting today?

Correct.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >, Mark Prater

<Mark Prater@Eioance
.senate.gov>, Barbara.Angus@maiLhouse
.gov
<Barbara.Angus@mail.house.gov >, Shahira Knight
>,
George Callas <George.Callas@mail.house.gov >, Brendan Dunn
(Brendan Dunn@mcconnell.senate.gov ) <Brendan Dunn@mcconnell.senate.gov >
Cc: West, Thomas <Thomas.West@treasury.gov >, Mackie, James Ill
<James.Mackie@treasury.gov >, Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: No tax reform working group meeting today?
TREAS-17-0313-D-000105

 I have assumed that there will not be a tax reform working group meeting today because the
vote-a-rama in the Senate. Is that a correct assumption?
Meet next on Monday, July 31 at 4:00 somewhere on the Hill to continue with

b(5)

Thanks.

AMERICAN

UST 000691
PVERSIGHT

TREAS-17-0313-D-000106

 RE: No tax reform workin

?

meetin

From :

"Mack ie, James Ill" <"/o=ustreasury/ou=do/cn=recipients/cn=mackiej">

To:

"Callas, Geon:~e"<Qeon:ie.callas@mail.house.gov>, "Knight, Shahira E. EOP/WHO"
"Prater , Mark (Finance)" <mark_prater@finance.senate.gov>

Cc:

"Kowalski, Daniel" <daniel.kowalski@ treasury.gov>, "Muzinich, Just in"
<justin.muzinich@treasury.gov>, "Angus, Barbara" <barbara.angus@ma il.house.gov>, "Dunn,
Brendan (McConnell)" <brendan_dunn@mcconnell .senate .gov>, "Bailey, Bradley"
<bradley.bai ley@treasury.gov>, ''West, Thomas" <thomas.west@treasury .gov>

Date :

Mon, 31 Jul 201711:36:51 -0400

b(5)
http://www.tax

discussion of the s&I tax deduction.
pol icycenter. org/p u b Iications/revisiting-state-and-lo

ca1-tax-ded uction/fu 11

From: Callas, George [mailto:George.Callas@mail.house.gov]
Sent : Monday, July 31, 2017 11:24 AM
To: 'Knight, Shahira E. EOP/WHO'
Prater, Mark (Finance)
<Mark _ Prater@finance.senate.gov>
Cc: Mackie, James Ill <James.Mackie@treasury .gov>; Kowalski, Daniel <Daniel.Kowalski@treasury .gov>;
Muzinich, Justin <Justin.Muzinich@treasury .gov>; Angus, Barbara <Barbara.Angus@mail.house.gov>;
Dunn, Brendan (McConnell) <Brendan _Dunn @mcconnell.senate.gov>; Bailey, Bradley
<Brad ley.Bailey@treasury.gov>; We st, Thomas <Thomas.West@treasury.gov>
Subject: RE: No tax reform working group meet ing today?

From : Knight, Shahira E. EOP/WHO mailto
Sent : Monday , July 31, 2017 11:14 AM
To: Prat er, Mark (Finance); Callas, George
Cc: James.Mackie@treasury.gov ; Daniel.Kowalski@treasury.gov ; Justin.Muzinich@treasury.gov ; Angus,
Barbara; Dunn, Brendan (McConnell); Bradley.Bailey@treasury.gov ; Thomas .West@treasury .gov
Subject: RE: No tax reform working group meeting today?

b(5)
I

From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Monday, July 31, 2017 10:52 AM
To: Callas, George <George.Callas@mail.house.gov >
Cc: James.Mackie@treasury.gov ; Daniel.Kowalski@treasury.gov : Justin.Muzinich@treasury.gov
Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Knight, Shahira E. EOP/WHO
>; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

: Angus,

b(5)

TREAS-17-0313-D-000107

 From: Callas, George fmailto:George.Callas@mail.house.gov ]
Sent : Monday, July 31, 2017 10:37 AM
To : Prater, Mark (Finance) <Mark Prater@finance.senate.gov >

Cc: James.Mackie@treasury.gov ; Daniel.Kowalski@treasury.gov ; Justin.Muzinich@treasury.gov
Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dun n@mcconnell.senate.gov >;
Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

; Angus,

b(5)
On Jul 31, 2017, at 10:34 AM, Prater, Mark (Finance) <Mark Prater@fjnance .senate.gov > wrote:

From: Callas, George fmailto:George.Callas@mail.house.gov
Sent: Monday, July 31, 2017 10:20 AM
To : James.Mackie@treasury.gov

]

Cc: Daniel.Kowalski@treasury.gov ; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;
Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnel l) <Brendan Dunn@mcconnell.senate.gov >;
Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

On Jul 31, 2017, at 9:51 AM, "James.Mackie@treasury.gov " <James.Mackie@treasury.gov > wrote:

b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Monday, July 31, 2017 7:58 AM
To : Kowalski, Daniel <Daniel.Kowalski@treasury.gov >

]

Cc: Mark Prater@finance.senate.gov ; Muzinich, Justin <Justin.Muzinich@treasury.gov >;
Angus, Barbara <Barbara.Angus@mail.house.gov >; Brendan Dunn@mcconnell.senate.gov ;
Mackie, James Ill <James.Mackie@treasury.gov >; Bailey,
Bradley <Bradlev .Bailev@treasury.gov >; West, Thomas <Jhomas .West@treasury .gov>
Subject: Re: No tax reform working group meeting today?

A

b(5)

t' : t d

?

I

Id

I 'f

h

th·

:t

.

t

TREAS-17-0313-D-000108

 On Jul 28, 2017, at 1:04 PM, "Daniel.Kowalski@treasury.gov " <Daniel.Kowalski@treasury.gov >
wrote:

From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 12:34 PM
To : Callas, George <George.Callas@mail.house.gov >; Muzinich, Justin

<Justin.Muzinich@treasury.gov >; Angus, Barbara <Barbara.Angus@mail.house.gov >;
Kowalski, Daniel <Daniel.Kowalski@treasur;uov >; Dunn, Brendan (McConnel l)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: Mackie, James Ill <James.Mackie@treasury.gov >; Bailey, Bradley
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject : RE: No tax reform working group meeting today?
b(5)

From : Callas, George [mailto:George.Callas@mail.house.gov ]
Sent : Friday, July 28, 2017 12:26 PM
To : Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;

Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >;
Daniel.Kowalski@treasury.gov ; Dunn, Brendan (McConnel l)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov :
Thomas.West@treasury.gov
Subject : RE: No tax reform working group meeting today?

-

From : Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Se nt : Friday, July 28, 2017 12:23 PM
To : Justin.Muzinich@treasury.gov ; Angus, Barbara; Daniel.Kowalski@treasury.gov ; Callas,

George; Dunn, Brendan (McConnell);

c c: James.Mackie@treasury
.gov; Bradlev.Bailev@treasury.gov
;
Thomas.West@treasury.gov
Subject : RE: No tax reform working group meeting today?
FYI .. Laura Saunders piece on TPC already trying to fill in the blanks, like they did in
August of 2012, on the Romney plan.
>https://www.wsj.com/a

rti cles/b ad-news-if-you-ma ke-150-000-to-300-000-h igh er-taxesTREAS-17-0313-D-000109

 for -ma ny-1501234200<

From : Justin.Muzinich@treasury.gov [mailto:Justin.Muzinich@treasury.gov
Sent : Thursday, July 27, 2017 1:05 PM

]

To: Prater , Mark (Finance) <Mark Prater@finance.senate.gov >;
Barbara.Angus@mail.house.gov ; Daniel.Kowalski@treasury.gov ;
George.Callas@mail.house.gov ; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: James.Mackie@treasury.gov ; Bradley.Bailey@treasury.gov ;
Thomas.West@treasury.gov
Subject : Re: No t ax reform working group meeting today?

Correct.

From: Kowalski, Danie l <Daniel.Kowalski@treasury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: M uzin ich, Justin <Justin.Muzinich@treasury.gov >, Mark Prater

<Mark Prater@Finance.senate.gov >, Barbara.Angus@mail.house.gov
<Barbara.Angus@mail.house.gov >, Shahira Knight
George Callas
<George.CaHas@roaiLhouse.gov >, Brendan Dunn
(Brendan Dunn@mcconnell.senate.gov )
<Brendan Dunn@mcconnelLsenate.gov >
Cc:West, Thom as <Thomas.West@treasury.gov >, Mack ie, James Ill
<James.Mackie@treasury.gov >, Bailey, Bra dley <Bradley.Bailey@treasury.gov >
Subject : No tax reform wo rking gro up meet ing today?
I have assumed tha t there wi ll not be a tax reform working group meeting today
because the vote -a-rama in the Senate . Is that a correct assumption?
Meet next on Monday, July 31 at 4:00 somewhere on the Hill to continue wit h
b(5)

TREAS-17-0313-D-000110

 Thanks.

UST 000696 TREAS-17-0313-D-0001 1 1

RE: No tax reform workin

meetin

?

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>, "Callas, George"
<george.callas@mail.house.gov>

Cc:

mark_prater@finance.senate.gov, "Muzinich , Justin" <justin.muzinich@treasury.gov>, "Angus,
Barbara" <barbara.anqus(@mail.house.gov>, brendan_dunn@mcconnell.senate.gov,
"Bailey, Bradley" <bradley.bailey@treasury.gov>, ''West, Thomas"
reasury.gov>

Date:

Mon, 31 Jul 2017 13:23:31 -0400

b(5)

http ://th eh i II.com/ po Iicy/fin an ce/342529-pen ce-sel Is-tru m ps-tax-refo rm-p la n-to-reta i lers
From: Kowalski, Daniel
Sent: Monday, July 31, 2017 1:19 PM

To: Callas, George <George.Callas@mail.house.gov>
Cc: Mark_Prater@finance .senate .gov; Mackie, James Ill <James.Mackie@treasury.gov>; Muzinich,
Justin <Justin.Muzinich@treasury.gov>; Angus, Barbara <Barbara.Angus@mail.house.gov>;
Brendan_Dunn@mcconnell.senate.gov; - ,; Bailey, Bradley
<Bradley.Bailey@treasury.gov>; West, Thomas <Thomas.West@treasury.gov>
Subject: RE: No tax reform working group meeting today?

b(5)
Youngstown:

From last week's rally in

My Administration is working every day to heed and honor the will of the
voters. That includes working on one of the biggest TAX CUTS in American
History - with relief for our Middle Class and for American Business.
IT IS TIME TO GIVE A GIANT TAX CUT TO THE AMERICAN PEOPLE.It is time to let
Americans keep more of their OWN MONEY. It is time to bring new companies
to our shores, and to create a new era of growth, prosperity and wealth.
From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Monday, July 31, 2017 11:16 AM

]

To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Cc: Mark Prater@finance.senate.gov ; Mackie, James Ill <James.Mackie@treasury.gov >; Muzinich,
Justin <Justin .Muzinich@treasury.gov >; Angus, Barbara <Barbara .Angus@mail.house.gov >;
Brendan Dunn@mcconnell.senate.gov ;
Bailey, Bradl ey
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today?

b(5)
On Jul 31, 2017, at 11:10 AM, "Daniel.Kowalski@treasury.gov " <Daniel.Kowalski@treasury.gov > wrote:
b(5)

TREAS-17-0313-D-000112

 b(5)
I

Fro m: Callas, George fmailto:George.Callas@mail.house.gov ]
Sent: Monday, July 31, 2017 11:00 AM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >

Cc: Mackie , James Ill <James.Mackie@treasury.gov >; Kowalski, Daniel
<Daniel.Kowalski@treasury.gov >; Muzinich, Justin <Justin.Muzinich@treasury.gov >; Angus,
Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; ·
Bailey, Bradley
<Bradley.Bailey@treasury .gov>; West, Thomas <Thomas .West@treasury.gov >
Subject : Re: No tax reform working group meeting today?

b(5)

On Jul 31, 2017, at 10:51 AM, Prater, Mark (Finance) <Mark Prater@finance.senate.gov > wrote:

b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov ]
Sent: Monday, July 31, 2017 10:37 AM
To : Prater, Mark (Finance) <Mark Prater@finance.senate.gov >

Cc: James.Mackie@treasury.gov ; Daniel .Kawa lski@treasury.gov ;
Justin.Muzinich@treasury.gov ; Angus , Barbara <Barbara.Angus@mail.house.gov >; Dunn,
Brendan (McConne ll) <Brendan Dunn@mcconnell.senate.gov >;
I; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subj ect : Re: No tax reform working group meeting today?

b(5)
On Jul 31, 2017, at 10:34 AM, Prater, Mark (Finance) <Mark Prater@finance .senate.gov >
wrote:

From : Callas, George [mailto:George.Callas@mail.house.gov
Se nt : Monday, July 31, 2017 10:20 AM
To : James.Mackie@treasury.gov

]

Cc: Daniel.Kowalski@treasury .gov ; Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >; Justin.Muzinich@treasury.gov
<Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConne ll)

; Angus, Barbara

<BrendanDunn@mccon
ne!l.senate,gov>;
Brad !ey. Bai !ey@treasury.gov ; Thom as.West@treasury.gov
Subject : Re: No tax reform working group meeting today?

b(5)

TREAS-17-0313-D-000113

 On Jul 31, 2017, at 9:51 AM, "James.Mackie@treasury .gov "
<James.Mackie@ t reasury .gov> wrote:
b(5)

From : Callas, George [mailto:George ,Callas@mail,house .gov)
Sent : Monday, July 31, 2017 7:58 AM

To : Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Cc: Mark Prater@finance.senate.gov ; Muzinich, Justin
<Justin.Muzinich@treasury.gov >; Angus, Barbara <Barbara.Angus@mail.house.gov >;
Brendan Dunn@mcconnell.senate.gov
:
Mackie,
James Ill <James.Mackie@treasury.gov >; Bailey, Bradley
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject : Re: No tax reform working group meeting today?

A
b(5)

r

:

t d

71

Id

I ·t

h

th· ! t

•

rt

On Jul 28, 2017, at 1:04 PM, " Daniel.Kowalski@treasury.gov "
<Daniel.Kowalski@treasury.gov > w rote:

From : Prater, Mark (Finance) [mailto:Mark
Sent: Friday, July 28, 2017 12:34 PM

Prater@finance.senate .gov]

To: Callas, George <George.Callas@mail.house.gov >; Muzinich, Justin
<Justin.Muzinich@treasury.gov >; Angus, Barbara
<Barbara.Angus@mail.house .gov >; Kowalski, Daniel
<Daniel.Kowalski@treasury.gov >; Dunn, Brendan (McConnell)
<Brendan Du nn@mcconnelI.senate.gov >;
Cc: Mackie, James 111<James,Mackje@tr easury .gov>; Bailey, Bradley
<Bradley .Bailey@treasury .gov>; West, Thomas <Thomas .West@treasury.gov >

TREAS-17-0313-D-000114

 Subject: RE: No tax reform working group meeting today?

b(5)

From : Callas, George [mailto:George .Callas@mail.house.gov ]
Sent: Friday, July 28, 2017 12:26 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;

Justin.Muzinich@treasury.gov ; Angus, Barbara
<Barbara.Angus@mail.house.gov >; Daniel.Kowalski@treasury .gov; Dunn,
Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >;

Cc: James.Mackie@treasury.gov : Bradley.Bailey@treasury.gov ;
Tho mas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

-

Prater@finance.senate.gov ]

Cc: James.Mackie@treasury.gov ; Bradley .Bailey@treasury.gov ;
Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?
FYI .. Laura Saunders piece on TPC already trying to fill in the blanks, like they
did in August of 2012, on the Romney plan.
bttps://www .wsj .com/ar t icles/bad-news-if-you-make-1so-ooo-to-30o-oooh igh er-taxes-far-ma ny-1501234200
b(5)

From : Justin .M uzi n ich@treasury.gov [ma ilto:Justin .M uzi n ich@treasury.gov ]

TREAS-17-0313-D-000115

 Sent: Thursday, July 27, 2017 1:05 PM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;

Barbara.Angus@mail.house.gov ; Danie l.Kowalski@treasury.gov :
George.Callas@mail.house.gov ; Dunn, Brendan (McConnell)
<Brendan Du nn@mcconnel I.senate.gov >;
Cc: James.Mackie@treasury.gov ; Brad ley.Bailey@treasury.gov ;
Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

Correct.

From: Kowalski, Daniel <Daniel.Kowalski@treas ury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: Muzinich, Justin <Justin.Muzin ich@treasury.gov >, Mark Prater

<Mark Prater@Finance.senate.gov >, Barbara.Angus@mai l.house.gov
<Barbara.Angus@mail.house .gov>, Shahira Knight
George Callas

<George.Callas@mai l.house.gov >, Brendan Dunn
(Brendan Dunn@mcconnell.senate.gov )
<Brendan Dunn@mcconnell.senate.gov >
Cc:West, Thomas <Thomas .West@treasury.gov >, Mackie, James Ill
<James.Mackie@treasury.gov >, Bailey, Bradley
<Bradley.Bailey@treasury.gov >
Subject: No tax reform working group meeting today?
I have assumed that there will not be a tax reform working group meeting
today because the vote -a-rama in the Senate. Is that a correct assumption?
Meet next on Monday, July 31 at 4:00 somewhere on the Hill to continue with
b(5)

I

Thanks.

TREAS-17-0313-D-000116

 Re: Bi Six business outreach
From :
To:

"Limardo , Rick" <rick.limardo@ma il.house.gov>

Cc:

"Dockery , Derrick" <derrick.dockery@mail.house.gov> , "Van Doren , Terry (McConnell)"
<terry_ vandoren@mcconnell.senate.gov>, "Sifakis , George A. EOP/WHO"
>, "Miller, Eli" <eli.miller@treasury.gov> ,
, hosla, Jay (Finance)" <jay_khosla@finance .senate .gov>,
uzm1c , ustm <1ustm.muzinich@treasury.gov>, "Suares, Erica (McConnell)"
<erica_suares@mcconne ll.senate .gov>, "Callas , George"
<QeorQe.callas@mail.house.Qov>, "Knight, Shahira E. EOP/WHO"
, "Prater, Mark (Finance)"
<mar _pra er mance.sena e.gov> , "Angus, Barbara"
<barbara .angus@mai l.house .gov>, "Stewart, David" <david.stewart@mail.house .gov>,
Brendan Dunn <brendan _dunn@mcconnell.senate.gov>

Date :
Attachments:

Mon, 31 Jul 2017 16:04:40 -0400

"Hickman, Bryan (Finance)" <brya n_hickman@finance .senate.gov>

Joint Statement Statements.docx (105.62 kB)

Good afternoon,
Hope everyone is enjoying the recess/distr ict work period (sorry Senate).
Attached and below for your files are all the statements we collected last week . If I missed any let me know.
Thanks ,
Rick

Statements on "Big 6" Tax Reform Statements

Business
SIFMA
Rate Coalition
American Petro leum Institute
Information Techno logy Industry Council
Small Business & Entrepreneurship Counci l
Financ ial Serv ices Roundtable
Business Roundtable
National Association of Wholesalers Distributers
American Made Coalition
Chamber of Commerce
Retail Industry Leaders Association
American Farm Bureau Federation
Cost Recovery Advances the Nation's Economy (CRANE) Coal ition
American Bankers Association
Associated Builders and Contractors
TechNet
Coalition for Fair Effective Tax Rates
National Association of Manufactures
Real Estate Roundtable
TREAS-17-0313-D-000117

 Conservative
Freedom Works
Americans for Tax Reform
Club for Growth
Heritage Action
Americans for Prosperity
National Taxpayers Union

Thank Tank
Peterson Foundation

Business

SIFMA

SIFMA Statement on Tax Reform Announcement

Washington, D.C., July 27, 2017 - SIFMA today issued the following
statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding
today's tax reform announcement:

"SIFMA members are strongly in favor of federal tax reform, and we're
encouraged that Congress and the White House have today announced a serious
plan to move the process forward. Modernizing the Internal Revenue Code is
critical to all Americans and has the potential to unleash unprecedented
economic growth. Our members recognize the need to address outdated
business and international tax rules that are out of step with the tax regimes of
our major trading partners. SIFMA is committed to promoting policies that grow
the economy while yielding a fair and competitive result for our members and
the clients they serve."

RATE COALITION

The RATE Coalition Today Issued the Following Statement Applauding 'Big Six'
Unity on Tax Reform:

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 We applaud the joint statement released today by House Speaker Paul Ryan,
Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin,
National Economic Council Director Gary Cohn, Senate Finance Committee
Chairman Orrin Hatch, and House Ways and Means Committee Chairman Kevin
Brady.

We agree that fixing America's broken tax code is a critical priority for the
economic strength of our country. It begins with lowering the corporate tax rate
to a globally-competitive level: it is the most important action we can take to
grow our economy, create jobs and put more money in the pockets of American
families and workers.

We believe that enactment of once-in-a-generation, comprehensive tax reform
consistent with the principles detailed today will both spark an economic boom of
investment and hiring here at home, and halt the steady erosion of America's
corporate tax base.

Collectively, our 33 members employ over thirty million Americans, or one-third
of America's private-sector workers across all fifty states. We are ready to
partner with both the Executive and Legislative branches to fix America's tax
code. And, we must act with urgency now to fix the rate and make real reform a
reality. Today's announcement is a critical step to ignite economic growth and
jumpstart job creation for the next generation of business leaders and
entrepreneurs.

AMERICANPETROLIUMINSTITUE
API APPLAUDSJOINT HOUSE, SENATE,AND ADMINISTRATION CALL FOR PROGROWTH TAX REFORM

WASHINGTON, July 27, 2017 - API President and CEO Jack Gerard issued the
following statement in response to Congressional leaders in the House and
Senate and administration officials expressing their support today for pro-growth
tax reform.
"API supports pro-growth tax reform and the combined commitment shown
today by the White House and Congressional leaders will help us achieve this
important goal," said Gerard. "Tax reform focused on economic development
can benefit American consumers, businesses and the economy. We will continue
to work with leaders in the House, Senate, and administration on pro-growth
policies that will help strengthen the U.S. energy renaissance.

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 "The oil and natural gas industry is investing billions in the U.S. economy each
year, and pro-growth tax reform would enable our members to help accelerate
these economic investments while keeping energy affordable. The right tax
reform approach must support job creation, manufacturing competitiveness and
global trade, including robust capital cost recovery mechanisms, a competitive
international tax system, and use of available foreign tax credits as part of any
deemed repatriation provision."
API is the only national trade association representing all facets of the oil and
natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the
U.S. economy. API's more than 625 members include large integrated
companies, as well as exploration and production, refining, marketing, pipeline,
and marine businesses, and service and supply firms. Our members provide
most of the nation's energy and are backed by a growing grassroots movement
of more than 40 million Americans.

INFORMATION TECHNOLOGY INDUSTRY COUNCIL

Tech Industry Says Tax Reform Urgently Needed for an Innovative &
Job-Creating US Economy

WASHINGTON - Today technology industry trade group ITI, the global voice of
the tech sector, released the following statement from Senior Vice President of
Government Affairs Andy Halataei after congressional leadership and White
House officials released their joint statement on tax reform:

"For tech, tax reform 'done right' can't come soon enough. To have Congress
and the White House unified like this means that not only is the band getting
together, they're singing the same tune," Halataei said. "Even as our companies
innovate, create good jobs and drive the economy to new heights, we labor
under an antiquated tax code predating the internet. The resulting dysfunction
holds the U.S. economy back from its true potential and it creates serious friction
for our companies as we try to compete around the world. With congressional
committees being given the green light, we look forward to reviewing the details
of their proposals this Fall and working with lawmakers to modernize our tax
code so that it unleashes future U.S. innovation."

The tech industry considers tax reform a keylegislative priority and ITI most
recently laid out its tax reform priorities for Congress to update an archaic tax
code by focusing on:

Lowering the corporate rate

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 Moving to a territorial system in which profits are taxed where
they occur, and
Investing in innovation that is needed to bolster economic growth
and U.S. job creation
Small Business & Entrepreneurship Council
Advocate for Entrepreneurs and Small Businesses Praises Joint Statement
on Tax Reform

Washington, O.C. - Small Business & Entrepreneurship Council (SBE Council)
president & CEO Karen Kerrigan issued the following statement following
today's joint statement on tax reform by House Speaker Paul Ryan (R-WI),
Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven
Mnuchin, National Economic Council Director Gary Cohn, Senate Finance
Committee Chairman Orrin Hatch (R-UT), and House Ways and Means
Committee Chairman Kevin Brady (R-TX):
"Reforming our nation's tax system is a top priority for small businesses and
American entrepreneurs. Bold reform is critical to stronger entrepreneurship and
new business creation in America, which is at a 40-year low and is undermining
economic opportunity and hope for so many Americans.
Entrepreneurs are reassured that the promise of fundamental tax reform
continues to advance forward. We look forward to our continued work with
leaders in the Congress and key people in the White House who have
continuously provided small business owners and our organization with the
opportunity to provide input and ideas. There is energy and momentum behind
tax reform, and our organization and its small business members are confident
that through the leadership of House Speaker Paul Ryan, Senate Majority Leader
Mitch McConnell, Treasury Secretary Steven Mnuchin, National Economic Council
Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch, and
House Ways and Means Committee Chairman Kevin Brady that our nation will
soon have a tax system that is fair, more simple and pro-growth. We are well
on our way to a modern tax system that encourages small business success, and
robust capital formation and entrepreneurship in America."

FINANCIAL SERVICES ROUNDTABLE

FSR Welcomes Progress on Tax Reform

WASHINGTON - The Financial Services Roundtable (FSR) welcomed today's joint statement
from the White House and Congressional GOP Leadership that they are making significant
progress to move tax reform forward this year.
"Today's announcement reflects Republican leaders have a unified purpose. They agree on key
principles necessary to enact tax reform that will help jumpstart economic growth and create quality

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 jobs for the American people," said FSR CEO Tim Pawlenty. "FSR looks forward to being a
constructive partner as this process moves forward this fall."

Last week, FSR sent a letter to Senate Finance Committee Chairman Hatch
outlining its support for the Committee's work to improve the American tax
system in ways that bolster economic growth and create opportunity for more
individuals and businesses. In its letter, FSRalso urged Congress to bear in mind
the financial industry's unique business model and not to impose industryspecific taxes that single out any sector for adverse treatment.

BUSINESS ROUNDTABLE

Statement on 'Big Six' Tax Reform Announcement

Washin~ton - Business Roundtable today welcomed the announcement by the
"Big Six' leaders of the progress being made on tax reform, including an
agreement in principle on lowering business tax rates and a move toward a
modern, territorial-type international tax system.

Mark A. Weinberger, Global Chairman and CEO of EY and Chair of the Business
Roundtable Tax and Fiscal Policy Committee, released the following statement:

"Today's announcement represents an important development toward passage
of tax reform. For the first time, we are seeing joint efforts and agreement
among the Administration and House and Senate Republican leadership about
the direction that tax reform must take. Importantly, the release lays out a time
frame and process to advance historic tax reform this fall.
"Business Roundtable has long stated that any successful reform must contain
two key principles: a globally competitive U.S. corporate tax rate and a modern
international tax system that does not penalize U.S. companies that seek to
bring earnings made in other countries back to the United States. Today's
announcement embraces those principles.

"Momentum is clearly building for passage of tax reform this year. The economy
urgently needs pro-growth reform so companies can invest and create more
high-quality jobs. In a recent Roundtable survey, 76 percent of CEOs said they
would increase hiring if the tax system is reformed, and 82 percent said they
would increase capital spending. Conversely, 90 percent of CEOs said that
delaying tax reform will harm the economy.

"Business Roundtable applauds the House, Senate and the Administration for

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 demonstrating such unity in pursuit of reform. We look forward to seeing
detailed legislative language and will actively engage Business Roundtable
membership to help make sure that tax reform becomes a reality in 2017."

NATIONAL ASSOCIATION OF WHOLESALERS DISTRIBUTERS
Wholesaler-Distributors Applaud Joint Statement of Principals for Tax Reform
Washington, DC (July 21, 2017) ... "The Joint Statement on Tax Reform released today by the
House, Senate and White House principals represents a significant step toward achieving
comprehensive tax reform. It sets forth goals for real reform of our outdated tax system which focus
on encouraging economic growth and treating individuals and businesses fairly," according to Dirk
Van Dongen, President of the National Association of Wholesaler-Distributors (NAW).
'This sets the stage for the process to promptly go forward with the tax-writing committees having a
common framework of reference as they undertake their deliberations. This is a major step
forward," said NAW Senior Vice President-Government Relations Jade West.
-30-

The National Association of Wholesaler-Distributors {NA W) is the "national voice
of wholesale distribution, "an association comprised of employers of all sizes,
and national, regional, state and local line-of-trade associations spanning the
$5. 6 trillion wholesale distribution industry that employs more than 5. 9 million
workers in the United States. Approximately 40,000 enterprises with places of
business in all 50 states and the District of Columbia are affiliated with NA W.

AMERICAN MADE COALITION

AMC Responds to Big Six Statement on Progress of Tax Reform

Washington, D.C. - The American Made Coalition issued the following statement
in response to the framework the "Big Six" negotiators released today about the
progress they are making toward a comprehensive overhaul of the tax code:

"Today's announcement confirms that the administration and congressional
leaders have unified around a shared vision for comprehensive tax reform that
will generate sustained economic growth. From the beginning, we have pushed
for significantly lower corporate tax rates, permanent reforms that give
businesses the certainty they need to invest here in the U.S., and a territorial tax
system that levels the playing field for American companies competing abroad.
We applaud the negotiators for including all three principles in the framework
they outlined today."

CHAMBER OF COMMERCE

U.S. Chamber Applauds 'Big Six' Unity on Tax Reform

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 Will Hold Lawmakers Accountable to Get Tax Reform Enacted This Year

WASHINGTON, D.C. - U.S. Chamber of Commerce Senior Vice President and
Chief Policy Officer Neil Bradley issued the following statement regarding the tax
reform principles released today by Congress and the Trump administration:

"Today's announcement, and the unity of vision shown in it, bolsters our
confidence that tax reform can be enacted this year. The engagement and
enthusiasm for pro-growth tax reform from Trump administration officials and
Congressional lawmakers is what will propel this over the finish line for American
businesses, workers, and families. The U.S. Chamber applauds the work that
has been done to narrow the differences and we look forward to continuing to
engage policy makers on this critical issue.

"As the Chamber's president and CEO Tom Donohue made clear in an open
letter to Congress last week about tax reform, 'failure is not an option' and the
Chamber will be holding lawmakers accountable to make sure tax reform gets
done for the American people."

The U.S. Chamber will judge any tax reform package on whether it achieves
economic growth; its principles for pro-growth tax reform can be viewed here.

RETAIL INDUSTRY LEADERS ASSOCIATION

With BAT Off the Table, Retailers Ready to Advocate for Tax Reform

Pro-growth reform will spark business investment and consumer spending
Arlington, VA - Today, the Retail Industry Leaders Association (RILA) praised the
decision of the White House and Congressional Leadership to remove the Border
Adjustment Tax (BAT) from consideration as it announced an outline for
comprehensive tax reform. RILA and several of its member company CEOs met
with President Trump in February, beginning the discussion with administration
officials about the severely negative consequences that would befall retailers
and consumers if BAT remained a central component of tax reform. Since that
meeting, RILA has met with Vice President Pence, Treasury Secretary Mnuchin,
and nearly 300 members of the House and Senate to discuss the importance of
passing tax reform without a BAT.
"Today's announcement is an important victory for American families and
businesses who desperately need tax reform and who would have been harmed
most by the border adjustment tax," said Sandy Kennedy, President of RILA.
"With BAT out, Washington has an opportunity for the first time in more than a

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 generation to pass a tax reform plan that boosts American businesses and family
budgets."
"As the nation's largest private-sector employer, retailers are ready to work with
lawmakers to pass tax reform that lowers corporate rates, scrutinizes
deductions, keeps America competitive globally, and creates a level playing field
here at home," said Kennedy. "There is no better time and no greater need for
tax reform to keep America competitive with the rest of the world. We look
forward to working with Congress and the Administration to pass a reform
package after the August recess."

RILA is the trade association of the worlds largest and most innovative retail
companies. RILA members include more than 200 retailers, product
manufacturers, and service suppliers, which together account for more than $1.5
trillion in annual sales, millions of American jobs, and more than 100,000 stores,
manufacturing facilities, and distribution centers domestically and abroad.

###

AMERICAN FARM BUREAU FEDERATION

Tax Reform Crucial for America's Farmers, Ranchers

Congressional leaders and administration officials have released a statement on
tax reform that addresses many issues of importance to America's farm and
ranch families. The following statement about that action may be attributed to
Zippy Duvall, President, American Farm Bureau Federation:

"America's farmers and ranchers are encouraged to see that key congressional
leaders and the administration understand how important tax reform is to all
Americans. Fixing our tax system now is crucial to creating economic
opportunities for farmers, ranchers and other family-owned businesses. This is
especially important as farmers continue to face down tough economic
challenges.

"This move sets the stage for Congress to put tax reform on its agenda. Not only
will reform strengthen our economy, but by addressing key issues like overall tax
rates, capital gains taxes and enhanced expensing, it will be good for farms and
other businesses.

"Our farmers and ranchers face numerous challenges and it is important to
recognize this creates special circumstances in regard to taxes. We look forward
to working with Congress to move tax reform forward and do it in a way that

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 benefits farm and ranch families and all Americans."

CRANE Coalition

CRANE Coalition: Joint Statement on Tax Reform Highlights Cost
Recovery To Drive Economic Growth
Kevin Dempsey, Senior Vice President for Public Policy at the American Iron and
Steel Institute and spokesman for the CRANECoalition, issued the following
statement about the joint tax reform announcement made today by House
Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY),
Treasury Secretary Steven Mnuchin, National Economic Council Director Gary
Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways
and Means Committee Chairman Kevin Brady (R-TX):
"Today's Joint Statement on Tax Reform significantly moves forward the process
for reforming the tax code to promote capital investment, job creation and
economic growth here at home.
"The shared tax reform principles of the House, Senate, Treasury Department
and White House demonstrate the critical role that rapid cost recovery plays in
promoting domestic investment. This public commitment also highlights the
recognition that reducing or eliminating this powerful pro-growth tool, as some
had previously proposed, would have been a short-sighted and ineffective effort
to raise revenue.
"The CRANEcoalition looks forward to working with the Trump Administration
and Members of the House and Senate on both sides of the aisle who share this
commitment to use rapid cost recovery in tax reform to create jobs by promoting
domestic investment that grows our economy."

AMERICAN BANKERS ASSOCIATION

ABA Applauds Joint Effort by Congress and Administration to Advance
Tax Reform

"We appreciate the commitment expressed today by Congress and the
administration to move forward with the difficult but critically important task of
reforming our nation's tax code.
"ABA strongly supports tax reform that boosts economic growth and creates
jobs by lowering tax rates for everyone and broadening the tax base in a
manner that avoids picking winners and losers. We look forward to working with
policymakers on a plan that abides by these and other core principles.
"Comprehensive tax reform has the power to contribute to the financial

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 success of America's families, businesses and communities, and the nation's
banks stand ready to support its enactment."

ASSOCIATED BUILDERS AND CONTRACTORS
ABC Applauds Joint Statement of Tax Reform Principles
WASHINGTON, July 27-- Associated Builders and Contractors (ABC) today
released the following statement regarding the joint statement on tax reform:
"The joint statement released this afternoon by administration and congressional
leaders is absolutely right-- the time has come for permanent, pro-growth tax
reform that makes the code simpler and fairer for businesses and individuals
alike," said ABC Senior Director of Legislative and Political Affairs Liam Donovan.
"According to analysis by the U.S. Treasury Department, the construction
industry faces the highest effective tax rate of any sector in a country with the
highest statutory rate in the developed world. More than three decades since the
last fundamental tax reform, at last we have an opportunity to improve the code
so that it works for the 21st century economy."
"Today's statement sends an important signal to the American people that
leaders at both ends of Pennsylvania Avenue appreciate the urgent need for
fundamental reform, and that they are united behind the tax-writers in the
respective chambers to produce legislation that can be signed by the President."
"ABC looks forward to working with the House Ways and Means Committee and
Senate Finance to enact permanent, comprehensive tax reform that treats
businesses fairly and equitably regardless of size, structure, or sector, and we
urge Congress to pass the FY18 budget resolution necessary to move a bill this
year."

TECHNET

TechNet Welcomes Growing Momentum for Tax Reform
Washington, D.C. - TechNet, the national, bipartisan network of innovation
economy CEOs and senior executives, welcomed today's announcement by the
House, Senate, and Trump Administration outlining the way forward on tax
reform legislation this year. The following statement is attributable to TechNet
President and CEO Linda Moore:
"Tax reform has waited long enough, and we welcome today's announcement
outlining the path forward to finally get it done this year. We appreciate the
work that the House, Senate, and administration have put into this issue so far,
and thank them for welcoming our perspective on the best way to promote
growth and job creation in the innovation economy. Now the hardest work
begins, and it is essential to seize this opportunity to maximize job creation and

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 increase investment for sustainable, long-term economic growth.
"The American economy simply cannot grow at its full potential without a thriving
technology sector, just as the technology sector cannot succeed without the right
federal policies in place. From the perspective of America's innovators, there is
no single federal policy being considered by Congress and the administration

COALITIONFOR FAIRAND EFFECTIVETAXRATES
Statement about the Joint Statement on Tax Reform from the Coalition for Fair
Effective Tax Rates:

"The Coalition for Fair Effective Tax Rates commends Republican leaders of
Congress and the Trump administration for producing a set of principles for tax
reform. We hope these concepts will soon be developed into comprehensive tax
reform legislation that creates a more level playing field for businesses of all
sizes across all industry sectors. We urge policymakers to view tax reform
through the lens of effective tax rates, the amount businesses actually pay in
taxes expressed as a percentage of income. Businesses should not be subject to
vastly different effective tax rates if they earn roughly the same amount of
money."

NATIONALASSOCATIONOF MANUFACTURERS
NAM Calls Tax Principles a Real Path Forward

Washington, D.C., July 27, 2017 - National Association of Manufacturers (NAM)
President and CEO Jay Timmons issued the following statement on the joint
principles for tax reform issued by the White House and leaders in the Senate
and House of Representatives:

"Today, America's leaders came together for America's manufacturing workers.
Their unified statement is the most promising sign yet that tax reform will
happen this year-and that Americans can trust that their jobs and their
paychecks a re the top priority.

"Finally, we have a real path to more take home pay for millions of Americans,
more money for savings and our children's future. We have a real chance to
build a solid economic foundation in the United States that will generate more
jobs, more investment and more growth-and greater wealth that can be shared

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 by all.

"Our current tax system is pummeling manufacturers in America, putting us at a
serious disadvantage compared to the rest of the world. For our jobs and our
future, we need a competitive tax code that allows us to win for America.
President Donald Trump's tax reform principles, outlined in April, should be the
basis for discussions moving forward to accomplish this goal. It's pass or fail
time for our leaders in Washington. Manufacturers will fight-with everything we
have-to help the President and Congress make the grade."

REAL ESTATE ROUNDTABLE

The Real Estate Roundtable supports the tax reform principles endorsed by
President Trump and Republican Congressional leaders. Their united statement
represents a positive step toward pro-investment, pro-growth tax reform.
Rewarding economic investment and entrepreneurship through tax reform that
establishes permanent, rational tax laws will spur job creation across all
businesses, advance sustainable real estate investment, and increase overall
national economic growth.

Conservative
FREEDOMWORKS
Washington, DC - FreedomWorks President Adam Brandon released the following statement
following today's joint statement on fundamental tax reform:
"It's time to get our economy growing again. We need tax reform that fundamentally overhauls, not
just tweaks, our current tax code. The tax code is a mile long with exceptions and carve-outs for
everything under the sun. It's inaccessible and hard to follow. FreedomWorks and our activist
community have waited a long time for this moment, and we're ready to get started to make tax
reform a reality."

AMERICANS FOR TAX REFORM

ATR Comments on Joint Statement on Tax Reform

Today ATR President Grover Norquist released the following
comments regarding the Joint Statement on Tax Reform:
"The joint White House, Senate, and House statement proves that tax reform is
on schedule for 2017. Congress and the administration are in agreement on a
tax reform plan that includes tax cuts and simplification for individuals, lower

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 rates for all businesses, full business expensing, and territoriality. This bold plan
is the key to unlocking at least three percent economic growth, creating millions
more jobs, and giving American families lower taxes and more take-home pay."

CLUB FOR GROWTH
CLUB FOR GROWTH: BYE BYE BAT
Rachael Slobodien - July 27th, 2017
Washington, DC - Club for Growth Vice President Andy Roth offered the following statement
in response to the news that a Border Adjustment Tax (BAT} would not be included in the tax
reform principles the White House and GOP Congressional leaders unveiled today. Club for
Growth played an instrumental role in influencing the BAT debate and ensuring its ultimate
demise. Earlier this year , Club for Growth spent nearly $700,000 on ad buys urging Republican
Members of Congress to oppose the BAT. Links to these ads are included at the bottom of this
release.
Club for Growth Vice President Andy Roth remarked:
"Today is a great day for the American taxpayer. From the get-go, Club for Growth led efforts to
inform the public of the harmful economic impacts a BAT would cause.
'Talk of a BAT had quieted as Congress began realizing - in part because of the attention Club for
Growth brought to the issue - the harm a BAT would wreak on our nation's economy and the
pocketbooks of hardworking Americans. But until today's announcement, the BAT was lurking in
the shadows ready to rear its ugly head.
"As Club for Growth President David McIntosh remarked earlier this summer, 'we should kill the
BAT, bury it, and give it a funeral.' Well, we're pleased today to do exactly that. In fact, we'll lead
the procession.
"Now that the BAT is dead and buried, we look forward to working with congressional leaders and
the White House to push for pro-growth tax reform. The Club strongly supports lower tax rates for
individuals and businesses, lower taxes on capital, and a simplified tax code that supercharges the
economy."

HERITAGE ACTION
GOP 'TAX PRINCIPLES' SIGNAL STRONG, PRO-GROWTH PLAN
Washington - Today, a group dubbed the "Big Six" released a broad set of principles to provide
directions to a long-awaited overhaul of America's cumbersome and inefficient tax code. The group
includes Senate Majority Leader Mitch McConnell, Speaker Paul D. Ryan, Finance Chairman Orrin
G. Hatch, Ways and Means Chairman Kevin Brady, Treasury Secretary Steven Mnuchin, and
National Economic Council Director Gary Cohn. Heritage Action released the following statement
from chief executive officer Michael A. Needham:
"We have a once in a generation opportunity to fundamentally reform America's outdated and
convoluted tax code. Heritage Action applauds President Trump and congressional leaders for
uniting behind a coherent set of principles that, if translated into policy, would unleash economic
growth, create jobs and increase wages.
"Not only are the principles solid, but the group's commitment to move beyond the border
adjustment tax signals a commitment to decisive action. Moving forward, it is imperative the
administration and congressional leaders ensure conservatives continue to have a seat at the
table. Conservatives will serve as a bulkhead against special interests that thrive in the swampy,
status quo. "

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 AMERICANS FOR PROSPERITY

AFP: Tax Reform on the Right Path
Americans for Prosperity applauds House Speaker Paul Ryan (R-WI), Senate Majority Leader
Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director
Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and
Means Committee Chairman Kevin Brady (R-TX) for coming together over recent months on a
framework that does not raise taxes on American families.
The group expressed that there's a strong understand among the grassroots that the tax code is
broken and doesn't work for regular Americans, and that they look forward to working together with
Congress, the Trump administration, and the grassroots to reduce that burden without adding new
ones like a BAT.
Americans for Prosperity President Tim Phillips had this to say:
"We7e greatly encouraged to see leaders put this harmful provision behind them and start to unify
around a positive vision for tax reform. Unrigging the economy without new burdens on regular
Americans is a once-in-a-generation opportunity. It will improve lives, put more disposable income
back in Americans' pockets, and level the playing field so that each of us have fair treatment under
the tax code.
"We will continue working with lawmakers and the White House to advance our positive vision for a
tax code built on principles of simplicity, equitability, efficiency and predictability - without creating
new taxes. We look forward to coming together to deliver on this great promise."

The group will engage in grassroots events throughout August with federal lawmakers, urging them
to support fixing the broken tax code.
The group is pleased that the framework opposes the BAT, and is committing significant grassroots
opposition to this trillion-dollar tax hike on American consumers.

BACKGROUND

Last week, AFP and Freedom Partners released a detailed
report that demonstrates how pro-growth tax reform can lead to more
jobs, stronger economic growth, higher wages, and more federal
revenue.
Learn more about AFP's five principles for tax reform here.
Previously, AFP submitted a letter to Chairman Hatch on the
Senate Finance Committee after he put out a call for input from external
stakeholders on tax reform. Read the AFP letter here.
In May, AFP and Freedom Partners announced a multi-million dollar effort to support this vision for
tax reform, and give new life to an issue that had seemingly stalled in Congress. The first tranche
of this effort was an aggressive digital ad effort by Americans for Prosperity urging lawmakers to
unify around their five key principles.

NATIONAL TAXPAYERS UNION
NTU Responds to Joint Statement on Tax Reform

Following the joint statement on tax reform released by the White House and Members of

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 Congress, NTU President Pete Sepp commented, "Congressional and White House leaders have
taken one important step forward together on the path toward completing a comprehensive
overhaul of the tax system by later this year. More steps are ahead. It took a great deal of effort
from both ends of Pennsylvania Avenue to get tax reform over the finish line in 1986. Today that
element of cooperation, not just between branches of government but between policymakers of
both parties, has even greater importance. With a more complex tax system, heavier competitive
pressure from other countries, and the pressing need to design laws that won't impede the next
wave of economic innovation, time is of the essence to legislate. We are grateful to Speaker Ryan,
Leader McConnell, Secretary Mnuchin, Director Cohn, Chairman Hatch, and Chairman Brady for
recognizing this urgency. NTU and its colleagues are eager to move forward with them and achieve
the pro-growth, pro-taxpayer reforms that Americans have long awaited ... and long deserved."

Think Tank
Peterson Foundation

STATEMENT FROM THE PETERSON FOUNDATION ON TAX REFORM

NEW YORK (July 28, 2017) - Michael A. Peterson, President and CEO of the
Peter G. Peterson Foundation, commented today following the release of a joint
statement on tax reform from House Speaker Paul Ryan, Senate Majority Leader
Mitch McConnell, Treasury Secretary Steve Mnuchin, National Economic Council
Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch, and
House Ways and Means Committee Chairman Kevin Brady:

"It is essential that fiscal responsibility be a fundamental principle of any tax
reform plan considered by Congress. We are currently on pace to add another
$7 trillion to the national debt over the next eight years. Implementing tax
reforms that are not paid for would only make matters worse, and we simply
can't afford to make our fiscal outlook more unsustainable than it already is.
"For tax reform to be truly 'pro-growth,' it must be paid for. Reforming taxes in a
way that worsens our fiscal condition is counterproductive because adding to our
national debt hurts economic growth. Increasing our deficits harms the economy
by raising interest costs, reducing wages and crowding out public and private
investments in our future.
"Reforming taxes in a fiscally responsible way will increase confidence and
certainty, and improve conditions for growth over the long term.
"Lawmakers should seize the opportunity to enact comprehensive tax reform
that makes the system simpler, fairer and more pro-growth, while also improving
our fiscal outlook. Changes to the tax code should drive a better economic and
fiscal future for the country, and tax reform done right would set America on a
stronger economic and fiscal path toward long-term prosperity."

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 Statements on "Big 6" Tax Reform Statements

Business
•
•

SIFMA
Rate Coalition

•
•

American Petroleum Institute
Information Technology Industry Council

•

Small Business & Entrepreneurship

•

Financial Services Roundtable

•
•

Business Roundtable
National Association of Wholesalers Distributers

•

American Made Coalition

•
•

Chamber of Commerce
Retail Industry Leaders Association

•

American Farm Bureau Federation

•
•

Cost Recovery Advances the Nation's Economy {CRANE) Coalition
American Bankers Association

•

Associated Builders and Contractors

•
•

TechNet
Coalition for Fair Effective Tax Rates

•

National Association of Manufactures

•

Real Estate Roundtable

Council

Conservative
•
•

FreedomWorks
Americans for Tax Reform

•

Club for Growth

•
•

Heritage Action
Americans for Prosperity

•

National Taxpayers Union

Thank Tank
•

Peterson Foundation

Business
SIFMA
SIFMA Statement on Tax Reform Announcement
Washington, D.C., July 27, 2017 - SIFMA today issued the following statement from
Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding today's tax reform
announcement:

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 "SIFMA members are strongly in favor of federal tax reform, and we're encouraged that
Congress and the White House have today announced a serious plan to move the
process forward. Modernizing the Internal Revenue Code is critical to all Americans and
has the potential to unleash unprecedented economic growth. Our members recognize
the need to address outdated business and international tax rules that are out of step
with the tax regimes of our major trading partners. SIFMA is committed to promoting
policies that grow the economy while yielding a fair and competitive result for our
members and the clients they serve."
RATE COALITION

The RATE Coalition Today Issued the Following Statement Applauding 'Big Six' Unity on
Tax Reform:
We applaud the joint statement released today by House Speaker Paul Ryan, Senate
Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin, National
Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch,
and House Ways and Means Committee Chairman Kevin Brady.
We agree that fixing America's broken tax code is a critical priority for the economic
strength of our country. It begins with lowering the corporate tax rate to a globallycompetitive level: it is the most important action we can take to grow our economy,
create jobs and put more money in the pockets of American families and workers.
We believe that enactment of once-in-a-generation, comprehensive tax reform
consistent with the principles detailed today will both spark an economic boom of
investment and hiring here at home, and halt the steady erosion of America's corporate
tax base.
Collectively, our 33 members employ over thirty million Americans, or one-third of
America's private-sector workers across all fifty states. We are ready to partner with
both the Executive and Legislative branches to fix America's tax code. And, we must act
with urgency now to fix the rate and make real reform a reality. Today's announcement
is a critical step to ignite economic growth and jumpstart job creation for the next
generation of business leaders and entrepreneurs.
AMERICAN PETROLIUM INSTITUE

API APPLAUDS JOINT HOUSE, SENATE,AND ADMINISTRATION CALL FOR PRO-GROWTH
TAX REFORM
WASHINGTON, July 27, 2017 -API President and CEO Jack Gerard issued the following
statement in response to Congressional leaders in the House and Senate and

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 administration

officials expressing their support today for pro-growth tax reform.

"API supports pro-growth tax reform and the combined commitment shown today by
the White House and Congressional leaders will help us achieve this important goal,"
said Gerard. "Tax reform focused on economic development can benefit American
consumers, businesses and the economy. We will continue to work with leaders in the
House, Senate, and administration on pro-growth policies that will help strengthen the
U.S. energy renaissance.
"The oil and natural gas industry is investing billions in the U.S. economy each year, and
pro-growth tax reform would enable our members to help accelerate these economic
investments while keeping energy affordable. The right tax reform approach must
support job creation, manufacturing competitiveness and global trade, including robust
capital cost recovery mechanisms, a competitive international tax system, and use of
available foreign tax credits as part of any deemed repatriation provision."
API is the only national trade association representing all facets of the oil and natural
gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.
APl's more than 625 members include large integrated companies, as well as
exploration and production, refining, marketing, pipeline, and marine businesses, and
service and supply firms. Our members provide most of the nation's energy and are
backed by a growing grassroots movement of more than 40 million Americans.
INFORMATION TECHNOLOGY INDUSTRY COUNCIL
Tech Industry Says Tax Reform Urgently Needed for an Innovative & Job-Creating US
Economy

WASHINGTON -Today technology industry trade group ITI, the global voice of the tech
sector, released the following statement from Senior Vice President of Government
Affairs Andy Halataei after congressional leadership and White House officials released
their joint statement on tax reform:
"For tech, tax reform 'done right' can't come soon enough. To have Congress and the
White House unified like this means that not only is the band getting together, they're
singing the same tune," Halataei said. "Even as our companies innovate, create good
jobs and drive the economy to new heights, we labor under an antiquated tax code
predating the internet. The resulting dysfunction holds the U.S. economy back from its
true potential and it creates serious friction for our companies as we try to compete
around the world. With congressional committees being given the green light, we look
forward to reviewing the details of their proposals this Fall and working with lawmakers
to modernize our tax code so that it unleashes future U.S. innovation."

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 The tech industry considers tax reform a key legislative priority and ITI most recently laid
out its tax reform priorities for Congress to update an archaic tax code by focusing on:
•
•
•

Lowering the corporate rate
Moving to a territorial system in which profits are taxed where they occur, and
Investing in innovation that is needed to bolster economic growth and U.S. job
creation

Small Business & Entrepreneurship Council
Advocate for Entrepreneurs and Small Businesses Praises Joint Statement on Tax
Reform

Washington, D.C. - Small Business & Entrepreneurship Council (SBE Council) president
& CEO Karen Kerrigan issued the following statement following today's joint statement
on tax reform by House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch
McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council
Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House
Ways and Means Committee Chairman Kevin Brady (R-TX):
"Reforming our nation's tax system is a top priority for small businesses and American
entrepreneurs. Bold reform is critical to stronger entrepreneurship and new business
creation in America, which is at a 40-year low and is undermining economic opportunity
and hope for so many Americans.
Entrepreneurs are reassured that the promise of fundamental tax reform continues to
advance forward. We look forward to our continued work with leaders in the Congress
and key people in the White House who have continuously provided small business
owners and our organization with the opportunity to provide input and ideas. There is
energy and momentum behind tax reform, and our organization and its small business

members are confident that through the leadership of House Speaker Paul Ryan, Senate
Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin, National
Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch,
and House Ways and Means Committee Chairman Kevin Brady that our nation will soon
have a tax system that is fair, more simple and pro-growth. We are well on our way to a
modern tax system that encourages small business success, and robust capital
formation and entrepreneurship in America."
FINANCIAL SERVICES ROUNDTABLE
FSR Welcomes Progress on Tax Reform
WASHINGTON -The

Financial Services Roundtable (FSR)welcomed today's joint
statement from the White House and Congressional GOP Leadership that they are
making significant progress to move tax reform forward this year.
"Today's announcement reflects Republican leaders have a unified purpose. They agree
on key principles necessary to enact tax reform that will help jumpstart economic

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 growth and create quality jobs for the American people," said FSRCEO Tim Pawlenty.
"FSR looks forward to being a constructive partner as this process moves forward this
fall."
Last week, FSRsent a letter to Senate Finance Committee Chairman Hatch outlining its
support for the Committee's work to improve the American tax system in ways that
bolster economic growth and create opportunity for more individuals and businesses. In
its letter, FSRalso urged Congress to bear in mind the financial industry's unique
business model and not to impose industry-specific taxes that single out any sector for
adverse treatment.
BUSINESS ROUNDTABLE
Statement on 'Big Six' Tax Reform Announcement

Washington
Six" leaders
principle on
international

- Business Roundtable today welcomed the announcement by the "Big
of the progress being made on tax reform, including an agreement in
lowering business tax rates and a move toward a modern, territorial-type
tax system.

Mark A. Weinberger, Global Chairman and CEO of EY and Chair of the Business
Roundtable Tax and Fiscal Policy Committee, released the following statement:
"Today's announcement represents an important development toward passage of tax
reform. For the first time, we are seeing joint efforts and agreement among the
Administration and House and Senate Republican leadership about the direction that
tax reform must take. Importantly, the release lays out a time frame and process to
advance historic tax reform this fall.
"Business Roundtable has long stated that any successful reform must contain two key
principles: a globally competitive U.S. corporate tax rate and a modern international tax
system that does not penalize U.S. companies that seek to bring earnings made in other
countries back to the United States. Today's announcement embraces those principles.
"Momentum is clearly building for passage of tax reform this year. The economy
urgently needs pro-growth reform so companies can invest and create more highquality jobs. In a recent Roundtable survey, 76 percent of CEOs said they would increase
hiring if the tax system is reformed, and 82 percent said they would increase capital
spending. Conversely, 90 percent of CEOs said that delaying tax reform will harm the
economy.
"Business Roundtable applauds the
demonstrating such unity in pursuit
legislative language and will actively
make sure that tax reform becomes

House, Senate and the Administration for
of reform. We look forward to seeing detailed
engage Business Roundtable membership to help
a reality in 2017."

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 NATIONAL ASSOCIATION OF WHOLESALERS DISTRIBUTERS
Wholesaler-Distributors

Applaud Joint Statement of Principals for Tax Reform
Washington, DC (July 27, 2017} ... "The Joint Statement on Tax Reform released today by

the House, Senate and White House principals represents a significant step toward
achieving comprehensive tax reform. It sets forth goals for real reform of our outdated
tax system which focus on encouraging economic growth and treating individuals and
businesses fairly," according to Dirk Van Dongen, President of the National Association
of Wholesaler-Distributors (NAW).
"This sets the stage for the process to promptly go forward with the tax-writing
committees having a common framework of reference as they undertake their
deliberations. This is a major step forward," said NAW Senior Vice PresidentGovernment Relations Jade West.
-30-

The National Association of Wholesaler-Distributors (NA W) is the "national voice of
wholesale distribution," an association comprised of employers of all sizes, and national,
regional, state and local line-of-trade associations spanning the $5. 6 trillion wholesale
distribution industry that employs more than 5.9 million workers in the United States.
Approximately 40,000 enterprises with places of business in all 50 states and the District
of Columbia are affiliated with NA W.
AMERICAN MADE COALITION
AMC Responds to Big Six Statement on Progress of Tax Reform

Washington, D.C. -The American Made Coalition issued the following statement in
response to the framework the "Big Six" negotiators released today about the progress
they are making toward a comprehensive overhaul of the tax code:
"Today's announcement confirms that the administration and congressional leaders
have unified around a shared vision for comprehensive tax reform that will generate
sustained economic growth. From the beginning, we have pushed for significantly lower
corporate tax rates, permanent reforms that give businesses the certainty they need to
invest here in the U.S., and a territorial tax system that levels the playing field for
American companies competing abroad. We applaud the negotiators for including all
three principles in the framework they outlined today."
CHAMBER OF COMMERCE

U.S. Chamber Applauds 'Big Six' Unity on Tax Reform
Will Hold Lawmakers Accountable to Get Tax Reform Enacted This Year

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 WASHINGTON, D.C. - U.S. Chamber of Commerce Senior Vice President and Chief
Policy Officer Neil Bradley issued the following statement regarding the tax reform
principles released today by Congress and the Trump administration:
"Today's announcement, and the unity of vision shown in it, bolsters our confidence
that tax reform can be enacted this year. The engagement and enthusiasm for progrowth tax reform from Trump administration officials and Congressional lawmakers is
what will propel this over the finish line for American businesses, workers, and families.
The U.S. Chamber applauds the work that has been done to narrow the differences and
we look forward to continuing to engage policy makers on this critical issue.
"As the Chamber's president and CEO Tom Donohue made clear in an open letter to
Congress last week about tax reform, 'failure is not an option' and the Chamber will be
holding lawmakers accountable to make sure tax reform gets done for the American
people."
The U.S. Chamber will judge any tax reform package on whether it achieves economic
growth; its principles for pro-growth tax reform can be viewed here.
RETAIL INDUSTRY LEADERSASSOCIATION
With BAT Off the Table, Retailers Ready to Advocate for Tax Reform

Pro-growth reform will spark business investment and consumer spending
Arlington, VA -Today, the Retail Industry Leaders Association (RILA) praised the decision
of the White House and Congressional Leadership to remove the Border Adjustment Tax
(BAT) from consideration as it announced an outline for comprehensive tax reform. RILA
and several of its member company CEOs met with President Trump in February,
beginning the discussion with administration officials about the severely negative
consequences that would befall retailers and consumers if BAT remained a central
component of tax reform. Since that meeting, RILA has met with Vice President Pence,
Treasury Secretary Mnuchin, and nearly 300 members of the House and Senate to
discuss the importance of passing tax reform without a BAT.
"Today's announcement is an important victory for American families and businesses
who desperately need tax reform and who would have been harmed most by the border
adjustment tax," said Sandy Kennedy, President of RILA. "With BAT out, Washington has
an opportunity for the first time in more than a generation to pass a tax reform plan
that boosts American businesses and family budgets."
"As the nation's largest private-sector employer, retailers are ready to work with
lawmakers to pass tax reform that lowers corporate rates, scrutinizes deductions, keeps
America competitive globally, and creates a level playing field here at home," said
Kennedy. "There is no better time and no greater need for tax reform to keep America
competitive with the rest of the world. We look forward to working with Congress and
the Administration to pass a reform package after the August recess."

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 RILA is the trade association of the worlds largest and most innovative
RILA members include more than 200 retailers, product manufacturers,
suppliers, which together account for more than $1.S trillion in annual
American jobs, and more than 100,000 stores, manufacturing facilities,
centers domestically and abroad.
###

retail companies.
and service
sales, millions of
and distribution

AMERICAN FARM BUREAU FEDERATION
Tax Reform Crucial for America's Farmers, Ranchers

Congressional leaders and administration officials have released a statement on tax
reform that addresses many issues of importance to America's farm and ranch families.
The following statement about that action may be attributed to Zippy Duvall, President,
American Farm Bureau Federation:
"America's farmers and ranchers are encouraged to see that key congressional leaders
and the administration understand how important tax reform is to all Americans. Fixing
our tax system now is crucial to creating economic opportunities for farmers, ranchers
and other family-owned businesses. This is especially important as farmers continue to
face down tough economic challenges.
"This move sets the stage for Congress to put tax reform on its agenda. Not only will
reform strengthen our economy, but by addressing key issues like overall tax rates,
capital gains taxes and enhanced expensing, it will be good for farms and other
businesses.
"Our farmers and ranchers face numerous challenges and it is important to recognize
this creates special circumstances in regard to taxes. We look forward to working with
Congress to move tax reform forward and do it in a way that benefits farm and ranch
families and all Americans."
CRANE Coalition
CRANE Coalition: Joint Statement on Tax Reform Highlights Cost Recovery To Drive
Economic Growth

Kevin Dempsey, Senior Vice President for Public Policy at the American Iron and Steel
Institute and spokesman for the CRANE Coalition, issued the following statement about
the joint tax reform announcement made today by House Speaker Paul Ryan {R-WI),
Senate Majority Leader Mitch McConnell {R-KY), Treasury Secretary Steven Mnuchin,
National Economic Council Director Gary Cohn, Senate Finance Committee Chairman
Orrin Hatch {R-UT), and House Ways and Means Committee Chairman Kevin Brady {RTX):

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 "Today's Joint Statement on Tax Reform significantly moves forward the process for
reforming the tax code to promote capital investment, job creation and economic
growth here at home.
"The shared tax reform principles of the House, Senate, Treasury Department and White
House demonstrate the critical role that rapid cost recovery plays in promoting
domestic investment. This public commitment also highlights the recognition that
reducing or eliminating this powerful pro-growth tool, as some had previously
proposed, would have been a short-sighted and ineffective effort to raise revenue.
"The CRANE coalition looks forward to working with the Trump Administration and
Members of the House and Senate on both sides of the aisle who share this
commitment to use rapid cost recovery in tax reform to create jobs by promoting
domestic investment that grows our economy."
AMERICAN BANKERS ASSOCIATION
ABA Applauds Joint Effort

by Congress and Administration to Advance Tax Reform

"We appreciate the commitment expressed today by Congress and the administration
to move forward with the difficult but critically important task of reforming our nation's
tax code.
"ABA strongly supports tax reform that boosts economic growth and creates jobs by
lowering tax rates for everyone and broadening the tax base in a manner that avoids
picking winners and losers. We look forward to working with policymakers on a plan
that abides by these and other core principles.
"Comprehensive tax reform has the power to contribute to the financial success of
America's families, businesses and communities, and the nation's banks stand ready to
support its enactment."
ASSOCIATED BUILDERS AND CONTRACTORS
ABC Applauds Joint Statement of Tax Reform Principles
WASHINGTON, July 27-- Associated Builders and Contractors (ABC) today released the

following statement regarding the joint statement on tax reform:
"The joint statement released this afternoon by administration and congressional
leaders is absolutely right-- the time has come for permanent, pro-growth tax reform
that makes the code simpler and fairer for businesses and individuals alike," said ABC
Senior Director of Legislative and Political Affairs Liam Donovan.
"According to analysis by the U.S. Treasury Department, the construction industry faces
the highest effective tax rate of any sector in a country with the highest statutory rate in

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 the developed world. More than three decades since the last fundamental tax reform,
at last we have an opportunity to improve the code so that it works for the 21st century
economy."
"Today's statement sends an important signal to the American people that leaders at
both ends of Pennsylvania Avenue appreciate the urgent need for fundamental reform,
and that they are united behind the tax-writers in the respective chambers to produce
legislation that can be signed by the President."
"ABC looks forward to working with the House Ways and Means Committee and Senate
Finance to enact permanent, comprehensive tax reform that treats businesses fairly and
equitably regardless of size, structure, or sector, and we urge Congress to pass the FY18
budget resolution necessary to move a bill this year."

TECHNET
Tech Net Welcomes Growing Momentum

for Tax Reform

Washington, D.C. -TechNet, the national, bipartisan network of innovation economy
CEOs and senior executives, welcomed today's announcement by the House, Senate,
and Trump Administration outlining the way forward on tax reform legislation this year.
The following statement is attributable to TechNet President and CEO Linda Moore:
"Tax reform has waited long enough, and we welcome today's announcement outlining
the path forward to finally get it done this year. We appreciate the work that the
House, Senate, and administration have put into this issue so far, and thank them for
welcoming our perspective on the best way to promote growth and job creation in the
innovation economy. Now the hardest work begins, and it is essential to seize this
opportunity to maximize job creation and increase investment for sustainable, longterm economic growth.
"The American economy simply cannot grow at its full potential without a thriving
technology sector, just as the technology sector cannot succeed without the right
federal policies in place. From the perspective of America's innovators, there is no
single federal policy being considered by Congress and the administration

COALITION FOR FAIR AND EFFECTIVETAX RATES
Statement about the Joint Statement on Tax Reform from the Coalition for Fair Effective
Tax Rates:
"The Coalition for Fair Effective Tax Rates commends Republican leaders of Congress
and the Trump administration for producing a set of principles for tax reform. We hope
these concepts will soon be developed into comprehensive tax reform legislation that

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 creates a more level playing field for businesses of all sizes across all industry sectors.
We urge policymakers to view tax reform through the lens of effective tax rates, the
amount businesses actually pay in taxes expressed as a percentage of income.
Businesses should not be subject to vastly different effective tax rates if they earn
roughly the same amount of money."

NATIONAL ASSOCATIONOF MANUFACTURERS
NAM Calls Tax Principles a Real Path Forward
Washington, D.C., July 27, 2017 - National Association of Manufacturers {NAM)
President and CEO Jay Timmons issued the following statement on the joint principles
for tax reform issued by the White House and leaders in the Senate and House of
Representatives:
"Today, America's leaders came together for America's manufacturing workers. Their
unified statement is the most promising sign yet that tax reform will happen this yearand that Americans can trust that their jobs and their paychecks are the top priority.
"Finally, we have a real path to more take home pay for millions of Americans, more
money for savings and our children's future. We have a real chance to build a solid
economic foundation in the United States that will generate more jobs, more
investment and more growth-and
greater wealth that can be shared by all.
"Our current tax system is pummeling manufacturers in America, putting us at a serious
disadvantage compared to the rest of the world. For our jobs and our future, we need a
competitive tax code that allows us to win for America. President Donald Trump's tax
reform principles, outlined in April, should be the basis for discussions moving forward
to accomplish this goal. It's pass or fail time for our leaders in Washington.
Manufacturers will fight-with
everything we have-to help the President and Congress
make the grade."

REALESTATEROUNDTABLE
The Real Estate Roundtable supports the tax reform principles endorsed by President
Trump and Republican Congressional leaders. Their united statement represents a
positive step toward pro-investment, pro-growth tax reform. Rewarding economic
investment and entrepreneurship through tax reform that establishes permanent,
rational tax laws will spur job creation across all businesses, advance sustainable real
estate investment, and increase overall national economic growth.
Conservative

FREEDOMWORKS

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 Washington, DC - FreedomWorks President Adam Brandon released the following
statement following today's joint statement on fundamental tax reform:
"It's time to get our economy growing again. We need tax reform that fundamentally

overhauls, not just tweaks, our current tax code. The tax code is a mile long with
exceptions and carve-outs for everything under the sun. It's inaccessible and hard to
follow. FreedomWorks and our activist community have waited a long time for this
moment, and we're ready to get started to make tax reform a reality."
AMERICANS FOR TAX REFORM

ATR Comments on Joint Statement on Tax Reform

Today ATR President Grover Norquist released the following comments regarding the
Joint Statement on Tax Reform:
"The joint White House, Senate, and House statement proves that tax reform is on
schedule for 2017. Congress and the administration are in agreement on a tax reform
plan that includes tax cuts and simplification for individuals, lower rates for all
businesses, full business expensing, and territoriality. This bold plan is the key to
unlocking at least three percent economic growth, creating millions more jobs, and
giving American families lower taxes and more take-home pay."
CLUB FOR GROWTH
CLUB FOR GROWTH: BYE BYE BAT
Rachael Slobodien - July 27th, 2017
Washington, DC- Club for Growth Vice President Andy Roth offered the following
statement in response to the news that a Border Adjustment Tax (BAT) would not be
included in the tax reform principles the White House and GOP Congressional leaders
unveiled today. Club for Growth played an instrumental role in influencing the BAT
debate and ensuring its ultimate demise. Earlier this year, Club for Growth spent nearly

$700,000 on ad buys urging Republican Members of Congress to oppose the BAT. Links
to these ads are included at the bottom of this release.
Club for Growth Vice President Andy Roth remarked:
"Today is a great day for the American taxpayer. From the get-go, Club for Growth led
efforts to inform the public of the harmful economic impacts a BAT would cause.
"Talk of a BAT had quieted as Congress began realizing - in part because of the attention
Club for Growth brought to the issue - the harm a BAT would wreak on our nation's
economy and the pocketbooks of hardworking Americans. But until today's
announcement, the BAT was lurking in the shadows ready to rear its ugly head.
"As Club for Growth President David McIntosh remarked earlier this summer, 'we
should kill the BAT, bury it, and give it a funeral.' Well, we're pleased today to do exactly
that. In fact, we'll lead the procession.

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 "Now that the BAT is dead and buried, we look forward to working with congressional
leaders and the White House to push for pro-growth tax reform. The Club strongly
supports lower tax rates for individuals and businesses, lower taxes on capital, and a
simplified tax code that supercharges the economy."
HERITAGE ACTION
GOP 'TAX PRINCIPLES' SIGNAL STRONG, PRO-GROWTH PLAN

Today, a group dubbed the "Big Six" released a broad set of principles to
provide directions to a long-awaited overhaul of America's cumbersome and inefficient
tax code. The group includes Senate Majority Leader Mitch McConnell, Speaker Paul D.
Ryan, Finance Chairman Orrin G. Hatch, Ways and Means Chairman Kevin Brady,
Treasury Secretary Steven Mnuchin, and National Economic Council Director Gary Cohn.
Heritage Action released the following statement from chief executive officer Michael A.
Needham:
Washington -

"We have a once in a generation opportunity to fundamentally reform America's
outdated and convoluted tax code. Heritage Action applauds President Trump and
congressional leaders for uniting behind a coherent set of principles that, if translated
into policy, would unleash economic growth, create jobs and increase wages.
"Not only are the principles solid, but the group's commitment to move beyond the
border adjustment tax signals a commitment to decisive action. Moving forward, it is
imperative the administration and congressional leaders ensure conservatives continue
to have a seat at the table. Conservatives will serve as a bulkhead against special
interests that thrive in the swampy, status quo."
AMERICANS FOR PROSPERITY
AFP: Tax Reform on the Right Path

Americans for Prosperity applauds House Speaker Paul Ryan (R-WI), Senate Majority
Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic
Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT),
and House Ways and Means Committee Chairman Kevin Brady (R-TX) for coming
together over recent months on a framework that does not raise taxes on American
families.
The group expressed that there's a strong understand among the grassroots that the tax
code is broken and doesn't work for regular Americans, and that they look forward to
working together with Congress, the Trump administration, and the grassroots to
reduce that burden without adding new ones like a BAT.
Americans for Prosperity President Tim Phillips had this to say:

"We're greatly encouraged to see leaders put this harmful provision behind them and
start to unify around a positive vision for tax reform. Unrigging the economy without
new burdens on regular Americans is a once-in-a-generation opportunity. It will improve
lives, put more disposable income back in Americans' pockets, and level the playing field
so that each of us have fair treatment under the tax code.

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 "We will continue working with lawmakers and the White House to advance our positive
vision for a tax code built on principles of simplicity, equitability, efficiency and
predictability - without creating new taxes. We look forward to coming together to
deliver on this great promise."
The group will engage in grassroots events throughout August with federal lawmakers,
urging them to support fixing the broken tax code.
The group is pleased that the framework opposes the BAT, and is committing significant
grassroots opposition to this trillion-dollar tax hike on American consumers.
BACKGROUND
• Last week, AFP and Freedom Partners released a detailed report that
demonstrates how pro-growth tax reform can lead to more jobs, stronger
economic growth, higher wages, and more federal revenue.
• Learn more about AFP's five principles for tax reform here.
• Previously, AFP submitted a letter to Chairman Hatch on the Senate Finance
Committee after he put out a call for input from external stakeholders on tax
reform. Read the AFP letter here.
In May, AFP and Freedom Partners announced a multi-million dollar effort to support
this vision for tax reform, and give new life to an issue that had seemingly stalled in
Congress. The first tranche of this effort was an aggressive digital ad effort by Americans
for Prosperity urging lawmakers to unify around their five key principles.
NATIONAL TAXPAYERS UNION
NTU Responds to Joint Statement on Tax Reform

Following the joint statement on tax reform released by the White House and Members
of Congress, NTU President Pete Sepp commented, "Congressional and White House
leaders have taken one important step forward together on the path toward completing
a comprehensive overhaul of the tax system by later this year. More steps are ahead. It
took a great deal of effort from both ends of Pennsylvania Avenue to get tax reform
over the finish line in 1986. Today that element of cooperation, not just between
branches of government but between policymakers of both parties, has even greater
importance. With a more complex tax system, heavier competitive pressure from other
countries, and the pressing need to design laws that won't impede the next wave of
economic innovation, time is of the essence to legislate. We are grateful to Speaker
Ryan, Leader McConnell, Secretary Mnuchin, Director Cohn, Chairman Hatch, and
Chairman Brady for recognizing this urgency. NTU and its colleagues are eager to move
forward with them and achieve the pro-growth, pro-taxpayer reforms that Americans
have long awaited ... and long deserved."
Think Tank
Peterson Foundation

AMERICAN
UST 000731
PVERSIGHT

TREAS-17-0313-D-000146

 STATEMENT FROM THE PETERSON FOUNDATION ON TAX REFORM
NEW YORK {July 28, 2017) - Michael A. Peterson, President and CEO of the Peter G.

Peterson Foundation, commented today following the release of a joint statement on
tax reform from House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell,
Treasury Secretary Steve Mnuchin, National Economic Council Director Gary Cohn,
Senate Finance Committee Chairman Orrin Hatch, and House Ways and Means
Committee Chairman Kevin Brady:
"It is essential that fiscal responsibility be a fundamental principle of any tax reform plan
considered by Congress. We are currently on pace to add another $7 trillion to the
national debt over the next eight years. Implementing tax reforms that are not paid for
would only make matters worse, and we simply can't afford to make our fiscal outlook
more unsustainable than it already is.
"For tax reform to be truly 'pro-growth,' it must be paid for. Reforming taxes in a way
that worsens our fiscal condition is counterproductive because adding to our national
debt hurts economic growth. Increasing our deficits harms the economy by raising
interest costs, reducing wages and crowding out public and private investments in our
future.
"Reforming taxes in a fiscally responsible way will increase confidence and certainty,
and improve conditions for growth over the long term.
"Lawmakers should seize the opportunity to enact comprehensive tax reform that
makes the system simpler, fairer and more pro-growth, while also improving our fiscal
outlook. Changes to the tax code should drive a better economic and fiscal future for
the country, and tax reform done right would set America on a stronger economic and
fiscal path toward long-term prosperity."

AMERICAN
UST 000732
PVERSIGHT

TREAS-17-0313-D-000147

 Tax Reform Working Group
Where:

H-208

When:

Tue Aug 01 16:00:00 2017 (America/New_ York)

Until:

Tue Aug 0118:00:00 2017 (America/New _York)

Organiser:

"Angus, Barbara" <barbara.angus@mail .house.gov>

Required Attendees:

"Angus, Barbara" <barbara.angus@mail.house.gov>
"Callas, George" <george.callas@mail.house.gov>
brendan_dunn@mcconnell.senate.gov
Mark Prater <mark_prater@finance.senate.gov>
"Knight, Shahira E. EOP/WHO"
"Muzin ich, Justin" <just in.muzinic
reasury .gov>
"Kowalski, Danie l" <danie l.kowalski@treasury.gov>

When: Tuesday
Canada)
Where : H- 208

, August

*~*~*~* ~ *~*~*~*~*

01 , 20 1 7 4 : 00 PM- 6 : 00 PM.

(UTC- 05 : 00)

Eastern

Time

(US

&

~*

TREAS-17-0313-D-000148

 FW: Tax Reform Working Group
Where:

H-208

When:

Tue Aug 01 16:00:00 2017 (America/New_ York)

Until:

Tue Aug 0118:00:00 2017 (America/New _York)

Organiser:

"Angus, Barbara" <barbara.angus@mail .house.gov>

Required Attendees:

"Angus, Barbara" <barbara.angus@mail.house.gov>
"Mackie , James Ill" <james .mackie@treasury.gov>
'West, Thomas" <thomas. west@treasury.gov>
"Bailey, Bradley" <brad ley.bailey@treasury.gov>
"Callas, George" <george.callas@mail.house.gov>
brendan _dunn@mcconnell.senate .gov
Mark Prater <mark_prater@finance.senate.oov>
"Knight, Shahira E. EOP/WHO"
"Muzin ich, Justin" <just in.muzinic
reasury .gov>
"Kowalski, Danie l" <danie l.kowalski@treasury.gov>

-----Original Appo intment----From : Angus , Barbara [mailto:Barbara.Angus@mail.house.gov]
Sent: Monday , July 31, 2017 6:10 PM
To: Angus, Barbara; Callas, George; Brendan_Dunn@mcconnell.senate.gov; Mark Prater; Knight, Shahira E.
EOP/W HO ; Muzinich , Justin; Kowalski, Dan iel
Subject: Tax Reform Work ing Group
When: Tuesday, August 01, 2017 4:00 PM-6:00 PM (UTC-05:00) Eastern Time (US & Canada) .
Where: H-208

When : Tuesday , August
T i me (US & Ca n ada)
Where : H-2 08

01 , 2017

4 : 00 PM-6 : 00 PM.

(UTC-05 : 00 ) Easte

rn

+~+~ + ~+~+~+~+~ + ~+~+

TREAS-17-0313-D-000149

 RE: What to Do: Policy Recommendations for Tax Reform, a
S atial model of Cor orate Tax Incidence
From:

b(6)

To:

"Schneider, Donald" <donald.schneider@mail.house.gov>

Date:

Wed, 02 Aug 2017 16:37:48 -0400

Attachments:

20170503172008035.pdf

hf!'))

.

• •• •

<"/o=ustreasury/ou=do/cn=recipients/cn=(tt(3

...-

b(5)

b(5)

••

•

I

••

...-

(1. 79 MB)

https://www.treasury.gov/resou

rce-center /tax-po Iicy/tax-

From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov]
Sent: Wednesda
Au ust 02 2017 4:24 PM
To:
treasury.gov>
Subject: Re: W at to Do: Po icy Recommendations for Tax Reform, a Spatial model of Corporate Tax
Incidence

Do you have a link to Hubbard or Gentry's comments on his paper?

Sent from my iPhone

On Aug 2, 2017, at 12:02 PM, "
wrote:

From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov
]
Sent: Wednesda , Au ust 02, 2017 11:47 AM
To:• •
treasur . ov >
Subject: RE: What to Do: Policy Recommendations for Tax Reform, a Spatial model of Corporate
Tax Incidence

AMERICAN
UST 000735
PVERSIGHT

TREAS-17-0313-E-000001

 , treasur . ov ]
From:• •
@treasury.gov mailto b(6)
Sent: August 2, 2017 11:34 AM
To: Schneider, Donald <Donald.Schneider@mail.house.gov
>
Subject: RE: What to Do: Policy Recommendations for Tax Reform, a Spatial model of Corporate
Tax Incidence
b(5)

From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov
]
Sent: Tuesday, August 01, 2017 7:57 PM
To:• •
treasur . ov >
Subject: What to Do: Policy Recommendations for Tax Reform, a Spatial model of Corporate Tax
Incidence

b(5)

http://www.aei.org/publication/spatial-model-corporate-tax-incidence/

Sent from my iPhone

AMERICAN

UST 000736
PVERSIGHT

TREAS-17-0313-E-000002

 Senators Letter to Sec. Mnuchin re Inversions
From:

"Clees, Thomas (Reed)" <thomas_clees@reed.senate.gov>

To:

"Newton, Andrew" <andrew.newton@treasury.gov>

Cc:

treasury.gov>, "Bailey, Bradley"
< ra ey. aI ey reasury.gov>,
oster, Lakecia (Durbin)"
< lakecia_foster@d u rbin. senate .gov>

Date:

Tue, 08 Aug 2017 16:39:27 -0400

Attachments:

8.8.17 Letter to Treasury re lnversions.pdf (1.63 MB)

Andrew,
As we discussed yesterday, please see the attached letter to Secretary Mnuchin, and please make
sure this reaches the appropriate individuals at Treasury.
Thank you,
Thomas Clees
Office of U.S. Senator Jack Reed
728 Hart Senate Office Building
Washington, DC 20510
202-224-4642
Thomas_Clees@reed.senate.gov

RE_ED [W]a

AMERICAN
UST 000737
PVERSIGHT

TREAS-17-0313-E-000003

 tlnitrd~tatrs~rnatr
WASHINGTON, DC 20510

August 8, 2017
The Honorable Secretary Steven Mnuchin
Department of the Treasury
1500 Pennsylvania A venue, NW
Washington, D.C. 20220
Dear Secretary Mnuchin:
We write in support of the Department's efforts to limit tax inversions and earnings
stripping. To date, these rules have had measureable success in stemming the tide of inversions ,
but they alone will not be effective in ending these offshoring tactics. Given the recent decrease
in inversion activity and ongoing efforts to reform the nation's broken tax system, we urge you
to reject calls to eliminate, undermine, or scale back the Section 385 rule and work with us to
curb these abusive tax avoidance schemes for good.
Inversions are corporate tax deals that allow U.S. companies to move their tax domicile
overseas - but only on paper - to avoid paying U.S. taxes. These schemes are deeply unfair to
American taxpayers who fund the programs and protections that many of these corporations use
to grow and thrive as they make significant profits. In return, these corporations choose to desert
their tax responsibility here at home, further eroding the U.S. tax base. Profit shifting by U.S.
companies costs the U.S. treasury more than $100 billion each year, and according to projections
in the Congressional Budget Office's Budget and Economic Outlook : 2017 to 202 7 report,
inversions and other tax-avoidance strategies will only increase over the next ten years, resulting
in the loss of much needed federal revenue. Limiting the ability for these companies to engage
in earnings stripping is an important step in limiting tax inversions and preserving the U.S. tax
base and tax fairness.
In 2004, Congress acted to prevent these types of deals. However, dozens of
corporations have used loopholes in the law to avoid U.S. taxes. In the absence of congressional
action to close these loopholes and projections that tax-avoidance schemes will worsen over the
next few years, the Department issued rules to reduce incentives to invert. As a result, a number
of companies rightly abandoned or questioned the benefits of their inversion efforts. Eliminating
or undermining this rule and any other anti-inversion regulations will inevitably create an
environment that is ripe for more frequent and sizable corporate inversions.
As Congress continues to weigh reform of the nation's broken tax system, it is incumbent
upon the Department to use its authority to strengthen the anti-inversion rules, not weaken or
repeal them. Moreover, we should be working together to put an end to these reckless practices
that drain much needed revenue from our Treasury.

AM RICAN
UST 000738
PVERSIGHT

TREAS-17-0313-E-000004

 If a company benefits from the United States and all that it has to offer, it should pay its
fair share of taxes here at home. We urge you to reject calls to eliminate or undermine the rule
so we can begin to restore some fairness to our tax system on behalf of the American people.
Sincerely,

Richard J. Durbin
United States Senator

Christopher Van Hollen
United States Senator

Al Franken
United States Senator

United States Senator

---- ~

~-~

United States Senator

Bernard Saners
United States Senator

--=

AMFnlCAf\
UST 000739
PVERSIGHT

TREAS-17-0313-E-000005

  

Tammy Du worth Cory X. Eooker
United Sta es Senator United States Senator

 

UST 000740 TREAS-17-0313-E-000006

RE: first ·oint meetin
From:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Angus, Barbara" <barbara.angus@mail.house.gov>,
<thomas. west@treasury.gov>

Date:

Tue, 08 Aug 2017 20:17:27 -0400

"West, Thomas"

Thanks.

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: "Angus, Barbara" <Barbara.Angus@mail.house.gov>
Date: 8/8/17 5: 12 PM (GMT-08:00)
To: "Prater, Mark (Finance)" <Mark_Prater@finance.senate.gov>,
Subject: RE: first joint meeting

Thomas.West@treasury.gov

Thanks, Mark. Exactly my thinking on sending out the draft in advance. Will do that as soon as the
time is set. And will send a note about timing as soon as I hear back from the drafters. No need to
get Alex involved on times - I' ll be back on that tomorrow morning.

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From: Prater, Mark (Finance} [mailto:Mark_Prater@finance.senate.gov]
Sent: August 8, 2017 7:55 PM
To: Thomas.West@treasury.gov; Angus, Barbara <Barbara.Angus@mail.house.gov>
Subject: RE: first joint meeting

Thanks. Good to get the ball rolling. I can have Alex coordinate times if that would be helpful.
Think it makes sense to do the specs discussion first. Could also circulate the draft in advance
of the first drafting session, so folks have some time to review, get comments together, and then
chat through.

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: Thomas.West@treasury.gov
Date: 8/8/17 4:25 PM (GMT-08:00)
To: Barbara.Angus@mail.house.gov , "Prater, Mark (Finance)"
<Mark Prater@finance.senate.gov >
Subject: Re: first joint meeting
Sounds good.
b(5)
I had to drop off the call but I think

AIVltJ~ll..,AI
UST 000741
PVERSIGHT

TREAS-17-0313-E-000007

 From: Angus, Barbara <Barbara.Angus@mail.house.gov >
Date: August 8, 2017 at 7:21:28 PM EDT
To: West, Thomas <Thomas.West@treasury.gov >, Prater, Mark (Finance)
(Mark Prater@finance.senate.gov ) <Mark Prater@finance.senate.gov >
Subject: first joint meeting
Am very happy the technical meetings of the teams are starting- I think it will be very valuable. I've
reached out to the drafters to ask about their availability for a meeting either Thursday or Friday
morning on our first topic - I think that meeting will be more of a discussion than a drafting session
but I'd like to give Henry a chance to be there if he can as he has done a lot of work on this issue.
Will send a scheduling message tomorrow morning as soon as I hear back. Thanks very much!

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
1136 Longworth House Office Building
202.225.5522
barbara.angus@mail.house.gov

AMERICAN
UST 000742
PVERSIGHT

TREAS-17-0313-E-000008

 Distribution tables
b(6)

From:

,

treasury.gov>

To:

"Harvey, Robert (Robert.Harvey@JCT.gov)" <robert.harvey@jct.gov>

Cc:

b(6)

@tr

-treasury.gov>,

treasury.gov>

Date:

Wed, 09 Aug 2017 09:37:31 -0400

Attachments:

Restricted_Distribution_WL_filing_status.pdf (557.98 kB);
Restricted_Distribution_WL_itemizing_status.pdf (531.9 kB);
Restricted_Distribution_ WL.pdf (509.39 kB); Restricted_Distribution_ WL_children .pdf
(533.26 kB)

Hi Rob,
Here are the distribution

tables that I mentioned.

J

b(6)

Director, Office of Tax Analysis
t of the Treasury
b(6)
.....

,.

H"fl

AMERICAN
UST 000743
PVERSIGHT

TREAS-17-0313-E-000009

 RE: Pass-throu h technical meetin
From:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Angus, Barbara" <barbara.angus@mail.house.gov>,
<thomas. west@treasury.gov>

Date:

Wed, 09 Aug 2017 16:20:36 -0400

"West, Thomas"

Hey Barbara,
I can be on a call at that time if we can arrange a call. The two folks from my team that should attend are
Eric and Jennifer.
Christopher has an interest in this issue (teaching partnership and as a coauthor of a treatise on it), but he
is traveling in Hawaii with family now.
I'll have Alex coordinate on our end.
Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: "Angus, Barbara" <Barbara.Angus@mail.house.gov>
Date: 8/9/17 12:15 PM (GMT-08:00)
To: Thomas.West@treasury.gov, "Prater, Mark (Finance)" <Mark_Prater@finance.senate.gov>
Subject: Pass-through technical meeting
Tom and Mark,
I talked to the drafters and the best time for a first meeting would be Friday at 10 am. Can you let
me know who from your teams will attend? I do think it is important that we keep these meetings
small, with only a couple of people from each team - with those folks coordinating with other of their
colleagues on any cross-over type issues. Also, we'll need to spend some time talking about the
ground rules for these technical/drafting meetings to make sure we're all on the same page - I don't
mean to be making a big deal about this but I figure it's good to be cautious so we all start off on the
right foot.
Happy to talk about all of this.
Thanks very much,
Barbara

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
1136 Longworth House Office Building
202.225.5522
barbara.angus @mail.house.gov

AMERICAN
UST 000744
PVERSIGHT

TREAS-17-0313-E-000010

 Distribution Tables
From:

"Kowalski, Daniel" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=cf6b4ee371 0f422fbceecb0020766838-kowalski, dan">

To:

barbara.angus@mail.house.gov

Date:

Wed, 09 Aug 2017 16:59:01 -0400

Attachments:

Distribution tables 8-9-17 Ways and Means.pdf (716.55 kB)

The attached file contains distribution

tables for 4 scenarios:

1.

2.

3.

4.

AMERICAN
UST 000745
PVERSIGHT

TREAS-17-0313-E-000011

 RE: Technical Meetin on Pass-Throu hs - Frida at 10
From:

"Angus, Barbara" <barbara.angus@mail.house.gov>

To:

"West, Thomas" <thomas.west@treasury.gov>, mark_prater@finance.senate.gov

Date:

Thu, 10 Aug 2017 14:26:46 -0400

Great! Thanks, Tom.

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From: Thomas.West@treasury.gov
[mailto:Thomas.West@treasury.gov]
Sent: August 10, 2017 2:03 PM
To: Angus, Barbara <Barbara.Angus@mail.house.gov>;
Mark_Prater@finance.senate.gov
Subject: RE: Technical Meeting on Pass-Throughs - Friday at 10

Barbara , Dana Trier , our new DAS and acting A/S for the next week, has asked to participate at the kick-off
of these in order to understand the ground rules, etc. He has also been leading a working group here at UST
on pass-throughs so I think his participation in this session will be important (also, he ' s my boss now , so ... )
Tom
Tom West
(202) 622-6707
thomas.west@treasury.gov

From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov ]
Sent: Thursday, August 10, 2017 1:32 PM
To: West, Thomas; Prater, Mark (Finance) (Mark Prater@finance.senate.gov)
Subject: Technical Meeting on Pass-Throughs - Friday at 10
Our technical/drafting
meeting on pass-th roughs will be Friday (tomorrow) at 10 AM at House Leg
Counsel's office, which is the Ford Building, Room 337. We will have a document to share as a
starting point. As this is our first technical/drafting
meeting (first of many!), it makes sense to start
with a discussion of the ground rules so we all are on the same page. I'm really glad we are starting
this process.
Attendees for this me ·
Treasury - Tom West,
Finance - Mark Prater, Eric Oman, Jennifer Acuna
W&M - Barbara Angus, Randy Gartin, Victoria Glover
JCT
House Leg Counsel
Senate Leg Counsel
Let me know if I've got the attendees right. And Mark, have you reachtd out to Senate Leg Counsel or
should I have the House counsel guys reach out to their counterpart? (I do think this meeting being
the first will be less of a drafting session than future meetings.)
Thanks very much!

Barbara M. Angus
Chief Tax Counsel

AMERICAN
UST 000746
PVERSIGHT

TREAS-17-0313-E-000012

 Committee on Ways and Means
1136 Longworth House Office Building
202.225.5522
barbara.angus@mail.house.gov

AMERICAN

UST 000747
PVERSIGHT

TREAS-17-0313-E-000013

 Re: Distribution Tables
From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Date:

Thu, 10 Aug 2017 15:32:55 -0400

b(5)

From: "Daniel. Kowalski@treasury.gov" <Daniel. Kowalski@treasury.gov>
Date: Thursday, August 10, 2017 at 3:30 PM
To: "Callas, George" <George.Callas@mail.house.gov>
Subject: RE: Distribution Tables

b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov]
Sent: Thursday, August 10, 2017 3:27 PM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov>
Subject: Re: Distribution Tables

b(5)

From: " Daniel. Kowalski@treasury.gov " <Daniel. Kowalski@treasury.gov >
Date: Thursday, August 10, 2017 at 3:24 PM
To: "Callas, George" <George.Callas@mail.house.gov >
Subject: RE: Distribution Tables

b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Thursday, August 10, 2017 3:21 PM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Subject: Re: Distribution Tables

]

b(5)
From: " Daniel. Kowalski@treasury.gov " <Daniel. Kowalski@treasury.gov >
Date: Wednesday, August 9, 2017 at 5:03 PM
To: "Callas, George" <George.Callas@mail.house.gov >
Subject: Distribution Tables
The attached file contains distribution
1.

tables for 4 scenarios:

b(5)

AMERICAN
UST 000748
PVERSIGHT

TREAS-17-0313-E-000014

  

UST 000749 TREAS-17-0313-E-000015

RE: reconcilin differences
From:

b(6)

<"/o=ustreasury/ou=do/cn=recipients/cn=-

To:

"Schneider, Donald" <donald.schneider@mail.house.gov>

Date:

Wed, 16 Aug 2017 15:40:12 -0400

Attachments:

compare strawman estimates sent 081617.xlsx (637.65 kB)

Here is the work sheet.
Please hold close and don't send an electronic copy to anyone.
From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov]
Sent: Wednesda
Au ust 16 2017 2:09 PM
@treasury.gov>
To:• •
Subject: reconciling differences

I'm free to talk when you are
Donald Schneider
Dona Id.Schneider@maii.house.gov
Senior Economist, Committee on Ways and Means
1136 Longworth HOB
Main: 202-225-3625
Direct: 202-226-5475

AMERICAN
UST 000750
PVERSIGHT

TREAS-17-0313-E-000016

 MEMORANDUM re o tions for JCT discussion 8-17-17.docx
From:

b(6)

To:

"Trigg, Brent" <brent.trigg@jct.gov>

@treasury.gov>
"

Cc:
<dana.trier@treasury.gov>,

· r, Dana"
treasury.gov>

Date:

Thu, 17 Aug 2017 10:34:50 -0400

Attachments:

MEMORANDUM re options for JCT discussion 8-17-17.docx (29.4 kB)

Brent - attached is a memo summarizing our thoughts.
this before our call.

We thought you might want to take a look at

Thanks again.

LIEM

AMERICAN
UST 000751
PVERSIGHT

TREAS-17-0313-E-000017

 RE: JCT scorin
From :

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Muzinich, Justin" <justin.muzinich@treasury.gov>
,
george.callas@mail.house.gov, "Kowalski, Daniel"< anie. owa s I reasury.gov>, "Dunn,
Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>, barbara.angus@mail.house.gov,
•
I
'~"
<david.kautter@treasury.gov>'
~@
treasury.gov>
Thu, 17 Aug 2017 12:16:02 -0400

mm

Date:

Thx, Justin.

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: Justin.Muzinich@treasury.gov
Date: 8/17/17 12:08 PM (GMT-05:00)
To:
, George.Callas@mail.house.gov, Daniel.Kowalski@treasury.gov ,
"Dunn, ren an c onne < rendan_Dunn@mcconnell.senate.gov>, "Prater, Mark (Finance)"
~finance.sena
te.gov>, Barbara.Angus@mail.house.gov, David.Kautter@treasury.gov,
~@trea
sury.gov
Subject: RE: JCT scoring update
Resending with Dave and Jay!
From: Muzinich, Justin
Sent: Thursday, August 17, 2017 12:06 PM
To:
; 'Callas, George' <George.Callas@mail.house.gov>; Kowalski,

Daniel <Daniel.Kowalski@treasury.gov>; Dunn, Brendan (McConnel l)
<Brendan_Dunn@mcconne ll.senate.gov>; 'Prater, Mark (Finance)' <Mark_Prater@finance.senate.gov>;
Barbara.Angus@mail.house.gov
Subject: JCT scoring update
All,
b(5)

1)
2)

3)

Justin

TREAS-17-0313-E-000018

 RE: RE:
From :

b(6)

" treas ury .gov>

To:

"Muzinich, Just in" <ju st in.muzinich@treasury.gov>,
<geo rge .callas@ mai l.house.gov>

"Callas, George"

Cc:

Date :

Thu , 17 Aug 2017 17:42:40 -0400

Attachments :

GBCs Repealed condensed.x lsx (65. 19 kB)

From: Muzinich, Justin

Sent : Thursday, August 17, 2017 1:59 PM
To: Callas, George <George.Callas@

·

Cc:

@treasury.gov>

Subject: RE:

odeled.-

•

•

. I

. I

I

•

I

•

I

;

.

•

I

~~

I

-:

I
I

•

•

.

~ I

>

.

Thanks. b(5)
b(5)

From : Justin. Muzi n ich@treasury.gov

-

-

[mailto :Justin. Muzi n ich@treasury.gov ]

Sent: Thursday, August 17, 2017 11:45 AM
TREAS-17-0313-E-000019

 To: Callas, George
Cc:
Subject:

    
   

Geor 

an 5,
Justin

UST 000754 TREAS-17-0313-E-000020

RE: reconcilin differences
From:

b(6)

To:

"Schneider, Donald" <donald.schneider@mail.house.gov>

Date:

Thu, 17 Aug 2017 17:53:38 -0400

"lo= ustreasury/ou=do/cn=recipients/cn=-

b(5)
From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov]
~

·

PM

To:
Subject: Re: reconciling differences

b(5)
b(5)

Sent from my iPhone

On Aug 17, 2017, at 5:46 PM,'
A typo in my email corrected:

b(5)

From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov
Se ·
1 2 1 · 7 PM
To:
Subject: RE: reconciling differences

]

Ah ok got it. My mistake. Thanks
From:
treasur . ov mailto b(6)
Sent: August 17, 2017 3:34 PM
To: Schneider, Donald <Donald.Schneider@mail.house.gov
Subject: RE: reconciling differences

>

From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov
Sent: Thursda , Au ust 17, 2017 3:06 PM
To:• •
Subject: RE: reconciling differences

Just looked at this again.

]

b(5)

AMERICAN
UST 000755
PVERSIGHT

TREAS-17-0313-E-000021

 b(5)

From: Schneider, Donald
Sent: Au ust 16 2017 4 :22 PM

.b(6)

b(5)

From• •
treasur . ov mailto
Sent: August 16, 2017 3:40 PM
To: Schneider, Donald <Donald.Schneider@mail.house.gov
Subject: RE: reconciling differences

>

Here is the work sheet.
Please hold close and don't send an electronic copy to anyone.
From: Schneider, Donald [mailto:Donald.Schneider@mail.house.gov
Sent: Wednesda , Au ust 16, 2017 2:09 PM

]

To:•
Subject: reconciling differences

I'm free to talk when you are
Donald Schneider
Donald.Schneider@mail.house.gov
Senior Economist, Committee on Ways and Means
1136 Longworth HOB
Main: 202-225-3625
Direct: 202-226-5475

AMERICAN

UST 000756
PVERSIGHT

TREAS-17-0313-E-000022

 RE: Pass-thru sub-9roup
From:

"Angus, Barbara" <barbara.angus@mail.house.gov>

To:

"Trier, Dana" <dana.trier@treasury.gov>,

Date:

Fri, 18 Aug 2017 17:41:02 -0400

Great. Please hold and we'll get confirmation

"West, Thomas" <thomas.west@treasury.gov>

from SFCand JCT.

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From: Dana .Trier@treasury.gov [ma ilto:Da na .Trier@treasury.gov]
Sent: August 18, 2017 5:35 PM
To: Thomas.West@treasury.gov;
Angus, Barbara <Barbara.Angus@mail.house.gov>
Subject: RE: Pass-thru sub-group
That is perfect for me. Dana

From: West, Thomas
Sent: Friday, August 18, 2017 3:22 PM
To: Angus, Barbara <Barbara.Angus@mail.house.gov
Subject: FW: Pass-thru sub-group

>; Trier, Dana <Dana.Trier@treasury.gov

>

Barbara, connecting you and Dana for scheduling.
Dana , 3-5 Tuesday afternoon is the offer on the table .
Tom West
(202} 622-6707
thomas.west@treasury.gov

From: Angus, Barbara[mailto:Barbara.Angus@mail.house.gov
]

Sent: Friday,August 18, 2017 3:19 PM
To: West, Thomas

Subject: RE: Pass-thrusub-group
How about 3 to 5?

Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522

AMERICAN
UST 000757
PVERSIGHT

TREAS-17-0313-E-000023

 From:

"Kowalski, Daniel" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=cf6b4ee3710f422fbceecb0020766838-kowalski, dan">

To:

"Angus, Barbara" <barbara.angus@mai l.house.gov>, Mark Prater
<mark_prater@finance.senate.gov>, "Muzinich, Justin" <iustin.muzinich<@treasury.gov>,"Callas,
George" <george .callas@mail.house.gov>,
', "Dunn, Brendan
(McConnell)" <brendan_dunn@mcconnel l.sena e.gov>

Cc:

'West, Thomas" <thomas.west@treasury.gov>

Date:

Tue, 22 Aug 2017 08:26:27 -0400

Tom is not in the office today, but my understanding from a conversation with him yesterday is most
of our folks are here and available this week. I've cc's Tom here so that he can coordinate efficiently.
From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov]
Sent: Tuesday , August 22, 2017 8 :14 AM
To: Mark Prater <Mark_Prater@finance.senate.gov>; Muzinich, Justin
<Justin .M uzinich@treasury.gov>; Kowalski, Danie l <Daniel.Kowalski@treasury.gov>; Callas, George
<George.Callas@mail.house.gov>;
Dunn, Brendan (McConnell)
<Brenda n_Du n n@mcco n nel I.senate.gov>
Subject: RE: Potential technical subgroup meetings this week

And happy to alternate hosting. Let's
oo and then we can optimize which three topics

-------- Original Message -------Subject: RE: Potential technical subgroup meetings this week
From: "Prater, Mark (Finance)" <Mark Prater@finance .senate.gov >
Date: Aug 22, 2017, 7:54 AM
To: "Angus, Barbara"
<Barbara.Angus@mail.house.gov >,Justin.Muzinich@treasury.gov,Daniel.Kowalski(attrea sury .go
v,"Callas, George" <George.Callas@mail.house.gov >
Dunn,
Brendan (McConnell)" <Brendan Dunn@mcconnell.senate.gov >
Thanks, Barbara.
I

b(S)
b(5)

•

• •. •

• • •

. •Y

••

b(S)

-•

l' •

• •

..

ru get Alex to coordinate on our end. Capitol venues work best for us. For venues, do you want
us to host the first and alternate or vice versa?
Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: "Angus, Barbara" <Barbara.Angus@mail.house.gov >
Date: 8/22/ 17 7:44 AM (GMT-05:00)
TREAS-17-0313-E-000024

 Thank s , Mark. Shou ld we try to do three of these this week and then continue into next week? fu
terms of po ss ible time s, how about Wedne sday at 10, Thursday at noon, and Friday at 1?
-------- Original Message -------Subject: RE: Potentia l technical subgroup meetings this week
From: "Prater, Mark (Finance)" <Mark Prat er@ finance.se nate .gov>
Date: Aug 21, 2017, 2: 17 PM
To: Justin.Muzinich @treasury.gov,"Angu s, Barbara"
<Barbara.Angu s@ mail.hou se.gov >,Daniel.Kowal ski(@,,
trea sury.gov ,"Cal las, George"
<George.Calla s@ mail.house .gov
,"Dunn, Brendan
(McConnell)" <Brendan Dunn@mcconnell.senate.gov >
Thanks, Barbara.
Depot Bay and Madras, as small Oregon burgs, will never enjoy this much fame again.
That sounds like a good set of tasks . Preston is out for the balance of this week and next, so that
constrains us a bit on b(5)

b(5)

From : Justin. Muzin ich@treasury.gov (mailto :Justin. Muzin ich@treasury.gov ]
Sent: Monday, August 21, 2017 11:00 AM
To: Barbara.Angus@mail.house.gov ; Daniel.Kowalski@treasury.gov ; Prater , Mark (Finance)
<Mark Prater@finance .senate.gov >; George .Callas@mail.house.gov ;
Dunn, Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >
Subject: Re: Potent ial technical subgroup meetings this week

These seem right to me, b(5)

Thank s Barbara.

From: Angus, Barbara <Barbara.Angus@ma il.house.gov >
Date: August 21, 2017 at 7:47:30 AM MDT
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >, Knight, Shahira E. EOP/WHO

>, Callas, George <George.Callas@mail.house.gov >, Dunn ,
Bren an McConne <Bren an Dunn@mcconnell.senate.gov >, Mark Prater
<Mark Prater@finance.senate.gov >, Muzinich, Justin <Justin.Muzinich@treasury.gov >
Subject: Potentia l technical subgrou p meetings this week
Happy eclipse day, all. Quick note about putting some technical subgroup meetings on the calendar
for this week.
We've got a pass-th roughs technical meeting on Tuesday from 3:00 to 5:00.

b(5)

Please chime in with any concerns . Otherwise, the technical staffs will work to get these set up.
TREAS-17-0313-E-000025

 Thanks very much.

UST 000760 TREAS-17-0313-E-000026

Re: Tax Workin

Meetin on Thursda ?

From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Date:

Wed, 23 Aug 2017 13:59:24 -0400

Yes, just haven't been at my desk mug today.
On Aug 23, 2017, at 1:16 PM, "Daniel.Kowalski@treasury.gov " <Daniel.Kowalski@treasury.gov > wrote:

Are you still planning to distribute

this?

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Tuesday, August 22, 2017 9:07 PM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Subject: Re: Tax Working Group Meeting on Thursday?

Yes, I plan to distribute

it tomorrow

]

morning.

From: " Daniel. Kowalski@treasury.gov " <Daniel. Kowalski@treasury.gov >
Date: Tuesday, August 22, 2017 at 6:31 PM
To: "Callas, George" <George.Callas@mail.house.gov >
Subject: Tax Working Group Meeting on Thursday?
I went to the "technical group" meeting on pass-th roughs, and the subject of a meeting of the regular
working group meeting came up. I said that we had talked, and that you hoped to have put the
finishing touches on the matrix for resolved and unresolved issues this week, and suggested it would
be a good item for us to meet on during the 4 to 6 pm window that we have set aside on Thursdays.
I think it would be very helpful to go through that matrix to make sure we are on the same page since
I can see how this feeds into the "technical" conversations as well. Will you be in a position to
circulate a document tomorrow that we could meet about on Thursday?
Give me a call if you want to discuss. I'm at 202-622-0992

{desk) or b(6)

{work cell).

Thanks,
Dan

AMERICAN
UST 000761
PVERSIGHT

TREAS-17-0313-E-000027

 draft matrix
From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Muzinich, Justin" <justin.muzinich@treasury.gov>, "Kowalski, Daniel"
<daniel.kowalski@treasury.gov>

Date:

Wed, 23 Aug 2017 14:49:51 -0400

Attachments:

template-straw man-committee table 08.23.17 TREASURY.pdf (379.33 kB)

George A. Callas
Senior Tax Counsel
Office of the Speaker

AMERICAN
UST 000762
PVERSIGHT

TREAS-17-0313-E-000028

 RE: No tax reform workin

rater@finance.se nate .gov >

From :

To:
Date :

?

meetin
@treasury.gov>

Wed , 23 Aug 2017 18:35 :01 -0400

Thanks,lmi)W
Jeff and I talked with Dan. Think we're squared away.
From : b(6)

@treasury.gov[mailto

:~

treasur y.gov]
To: Prater, Mark (Finance) <Mark _ Prater@finance.senate.gov>
Subject: RE: No tax reform working group meeting today?

Sent : Wednesday, August 23, 2017 5:04 P~

b(6)
From: Prater, Ma rk (Finance) [mailto:Mark

Prater@finance.senate.gov

]

Sent : Wednesday, August 23, 2017 4:28 PM
treasur

To:

. ov >

Subject: RE: No tax reform w o r king group meeting today?
Hey Jeff and I would like to chat with you briefly.
What's the best number?
Thanks.
From :

treasur

. ov [mailto llii.3

@treasury.gov ]

Sent : Monday, July 31, 2017 11:37 AM
To: George.Callas@mail.house.gov :
; Prater, M ark (Finance)
<Mark Prater@finance.senate.gov >
Cc:Daniel.Kowalski@treasury.gov : Justin.Muzinich@treasury.gov : Barbara.Angus@mail.house.gov ;
Dunn, Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >; Bradley.Bailey@treasury.gov :
Thomas.West@treasury.gov
Subject: RE: No tax reform w o r king group meeting today?

b(5)

http://www.taxpol

icycenter. org/p u b Ii cations/revisiting-state

-an d-I o caI-tax-d eduction /fu 11

From : Callas, George [mailto:George ,Callas@mail ,house .gov ]

Sent : Monday, July 31, 2017 11:24 AM
To: 'Knight, Shahira E. EOP/WHO'

>; Prater, Mark (Finance)

<Mark Prater i finance.senate .• ov >

Cc:ltiid

,
@treasury.gov >;Kowalski, Danie l <Daniel.Kowalski@treasury.gov >;
Muzinich , Justin <Justin.Muzinich@treasury.gov >; Angus, Barba ra <Barbara.Angus@mail.house.gov >;
Dunn , Brendan (McConnell) <Brendan Dunn@mcconnell.senate.gov >; Bailey , Brad ley
<Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: RE: No tax reform wo r king group meeting today?
b(5)
I

TREAS-17-0313-E-000029

 b(5)
b(5)

From : Knight, Shahira E. EOP/WHO mailto
Sent : Monday, July 31, 2017 11:14 AM

To: Prater Mark (Finance); Callas, George
Cc: Ih
a 1
@treasury.gov ; Daniel.Kowalski@treasury.gov ; Justin.Muzinich@treasury.gov ; Angus,
Barbara; Dunn, Brendan (McConnell); Bradley.Bailey@treasury .gov; Thomas.West@treasury .gov
Subject: RE: No tax reform working group meeting today?

b(5)

From : Prater, Mark (Finance) [mailto:Mark
Sent : Monday, July 31, 2017 10:52 AM

Prater@finance.senate.gov )

To: Callas, George <George.Callas@mail.house.gov >
Cc: j;jf:i
@treasury .eov ; Daniel.Kowalski@treasury
.eov : Justin .Muzinich@treasury .eov : Angus,
Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Knight, Shahira E. EOP/WHO
>; Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: RE: No tax reform working group meeting today?

b(5)

From : Callas, George [mailto:George.Callas@mail.house.gov
Sent : Monday, July 31, 2017 10:37 AM

]

To: Prater Mark (Finance) <Mark Prater@finance.senate.gov >
Cc:• •
treasur . ov; Daniel.Kowalski@treasury.gov : Justin.Muzinich@treasury.gov
Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dun n@mcconnell.senate.gov >;
Bradley.Bailey@treasury.gov ; Thomas.West@treasury.gov
Subject: Re: No tax reform wo rking group meeting today?

: Angus,

b(5)
On Jul 31, 2017, at 10:34 AM, Prater, Mark (Finance) <Mark Prater@finance.senate.gov

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Monday, July 31, 2017 10:20 AM

> wrote:

]

To:l;mi

@treasury.gov
Cc: Daniel.Kowalski@treasury.gov : Prater, M ark (Finance) <Mark Prater@finance.senate.gov >;
Justin.Muzinich@treasury.gov ; Angus, Barbara <Barbara.Angus@mail.house.gov >; Dunn, Brendan
(McConnel l) <Brendan Dunn@mcconnell.senate.gov >;
Bradley.Bailey@treasury.gov ; Thomas .West@treasury.gov
Subject: Re: No tax reform working group meeting today?

TREAS-17-0313-E-000030

 On Jul 31, 2017, at 9:51 AM,"
b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov
Sent: Monday, July 31, 2017 7:58 AM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >

]

Cc: Mark Prater@finance.senate.gov : Muzinich, Justin <Justin.Muzinich@treasury.gov >;
·
>· B
D nn mcconnell.senate. ov;
Angus, Barbara <Barbara.An ~
@treasury.gov >;Bailey,
Bradley <Bradley.Bailey@treasury.gov >; West, Thomas <Thomas.West@treasury.gov >
Subject: Re: No tax reform working group meeting today?

On Jul 28, 2017, at 1:04 PM, "Daniel.Kowalski@treasury .gov" <Daniel.Kowalski@treasury.gov >
wrote:

From: Prater, Mark (Finance) [mailto:Mark Prater@finance.senate.gov ]
Sent : Friday, July 28, 2017 12:34 PM
To : Callas, George <George.Callas@mail.house.gov >; Muzinich, Justin

<Justin.Muzinich@treasury.gov >; Angus , Barbara <Barbara.Angus@mail.house.gov >;
Kowalski, Daniel <Daniel.Kowalski@treasury.gov >; Dunn, Brendan (McConnel l)
<Brendan Dunn@mcconnell.senate.gov >;
Cc:i.Ulli
@treasury.gov >;Bailey, Bradley
<Bradley .Bailey@treasury .gov>; West, Thomas <Thomas .West@treasury .gov >
Subject: RE: No tax reform working group meeting today?

TREAS-17-0313-E-000031

 b(5)

From : Callas, George [mailto :George .Callas@mail.house .gov]
Se nt : Friday, July 28, 2017 12:26 PM
To : Prater, Mark (Finance) <Mark Prat er@finance.senate.gov >;

Justin.Muzinich@treasury.gov ; Angus , Barbara <Barbara.Angus@mail.house.gov >;
Daniel.Kowalski@treasury .gov; Dunn, Brendan (M cConnel l)
<Brendan Dunn@mcconnell.senate.gov >;
Cc: iff6J
@treasury .gov; Bradley.Bailey@treasury.gov ;

Jhomas.West@treasurv.gov

-

Subject : RE: No tax reform working group meeting today?

From : Prater, Mark (Finance) [mailto:Mark Prater@finance .senate.gov ]
Sen t: Friday, July 28, 2017 12:23 PM
To: Justin .M uzi n ich@treasury.gov ; An_gus, Barbara ; Dan iel.Kowa lski@treasury.gov ; Callas,

Ge

endan (McConnell) ;
treasur . av; Bradley.Bailey@treasury.gov ;
Thomas.West@ t reasury .gov
Subject : RE: No t ax reform working group meet ing today?

Cc:• •

>https ://www .wsj.com/articles/bad-news-if-you-make-150-000-to-300-000-higher-taxesfor-ma ny-1501234200<
b(5)

From: Justin.Muzinich@treasury.gov
[mailto :Justin.Muzinich@treasury.gov
Sent : Thursday, July 27, 2017 1:05 PM
To : Prater, Mark (Finance) <Mark Prater@finance.senate.gov >;

]

Barbara.Angus@mail.house.gov ; Daniel.Kowalski@treasury.gov ;
George.Callas@mail.house.gov ; Dunn, Brendan (McConnell)

TREAS-17-0313-E-000032

 <Brendan Dunn@mcconnell.senate.gov >;
i 1treasury.gov : Bradley.Bailey@treasury.gov :
Cc: lffdi
Thomas.West@treasury.gov
Subject: Re: No tax reform working group meeting today?

Correct.

From: Kowalski, Daniel <Daniel.Kowalski@treasury.gov >
Date: July 27, 2017 at 12:52:03 PM EDT
To: Muzin ich, Justin <Justin.Muzinich@treasury.gov >, Mark Prater

<Mark Prater@Eioance.senate.gov
>, Barbara.Angus@maH.house.gov
<Barbara.Angus@mail.house.gov >, Shahira Knight
>, George Callas
<George.Callas@mail.house.gov >, Brendan Dunn
(Brendan Dunn@mcconnell.senate.gov )
<Brendan Dunn@mcconnell.senate.gov >
Cc:West, Thomas <Thomas.West@treasury.gov >, Mackie, James Ill
treasur . ov>, Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: No tax reform working group meeting today?
I have assumed that there will not be a tax reform working group meeting today
because the vote-a-rama in the Senate. Is that a correct assumption?
Meet next on Monday, July 31 at 4:00 somewhere on the Hill to continue with
international?
Thanks.

TREAS-17-0313-E-000033

 RE: Sec. Mnuchin Mt

al Finance Caucus

From:

' b(6)

To:

"Heitlinger, David" <david.heitlinger@mail.house.gov>, ~
<lifci
@ 1ail.house.gov>, "Hulse, Bill" <bill.h~ov>

Cc:

"Bailey, Bradley" <bradley.bailey@treasury.gov>,

Date:

Tue, 29 Aug 2017 10:35:27 -0400

@treasury.gov>

"Phaup, Elliott" <elliott.phaup@mail.house.gov>

Good morning all! Possible to lock in Wednesday, Sept. 13th from 4 :30-5:30? Thanks!

Tww

From: Heitlinger, David [mailto:David.Heitlinger@mail.house.gov]
Sent: Monday, August 28, 2017 5:16 PM
G)mail.house.gov>; iif(;i
<• •
@treasury.gov>;Hulse, Bill <Bill.Hulse@mail.house.gov>
Cc: Bailey, Bradley <Bradley.Bailey@treasury.gov>; Phaup, Elliott <Elliott.Phaup@mail.house.gov>
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus
Hi Everyone,
I am including our scheduler on this email. The 13th is a busy day for our boss, so I want to make sure
he is current. Thanks!
Best,
Dave

Hil:mJIIIIIII
That is quite alright. We can accommodate to Secretary Mnuchin's schedule. We could host a meeting
from 4 :30 pm - 5:30 pm or 5:00 pm - 6:00 pm on Sept. 13.
Let me know what would work best.
Thank you!

-

Best,

I Executive Assistant
U.S. Representative Randy Hultgren (IL-14)
2455 Rayburn I Washington, DC 20515
Office: (202) 225-2976
I Facebook I Twitter

b(6)

LLJ

From
@treasury.gov [mailto: lm'IIII
@treasury.gov ]
Sent: Friday, August 25, 2017 10:24 AM
To:jffi:;j
@mail.house.gov >;Hulse, Bill <Bill.Hulse@mail.house.gov

A1v1L

1

>

..,AN

UST 000768
PVERSIGHT

TREAS-17-0313-E-000034

 Cc: Bradley.Bailey@treasury.gov ; Heitlinger, David <David.Heitlinger@mail.house.gov
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

>

Good morning lttl3,-The Secretary now has a conflict on Tuesday, Sept. 5th from 4:00-5 :00pm.
Might it be possible to provide me with some other dates/times to reschedule this meeting? We can
still make Wednesday, Sept. 13th between 3:30-6:00pm work if that might be an option. Thanks
much!

-

From: b(6)
Sent: Frida

,

To:

mail.house.

ov ]

treasur . ov >; Hulse, Bill <Bill.Hulse@mail.house.gov >
>; Heitlinger, David

Cc: Bailey, Bradley <Bradley.Bailey@treasury.gov

<David .Heitlinger@ma ii .house.gov >
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

HiThat's great, thank you so much. If you able to accommodate scheduling the meeting on The Hill,
then we can host it there. However, we are happy to schedule this meeting at a location that will be
most convenient for Mr . Mnuchin. Let me know what works best. Thanks!

b(6)

Executive Assistant
U.S. Representative Randy Hultgren (IL-14)
2455 Rayburn I Washington, DC 20515
Office: (202) 225-2976
Website I Facebook I Twitter
From:@treasury.gov [mailto
Sent: Friday, August 18, 2017 _12:00 PM
To: lffl;j •
•
Hulse, B111
Cc: Bradley.Bailey@treasury.gov; Heitlinger, David
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus
Hi 15fa
Happy to lock in Tuesday, Sept. 5th from 4:00-5 :00pm, that works great. When you have a
moment let me know the location of this meeting. I will be connecting you with our
scheduling/advance team for further coordination on logistics unless there is someone else that will
handle that on your end. Thanks much!

b(6)
..
6xecutive Asst..stciV\,t to tl1e seu-etCIYkj
Depci rtmeV\,t of tl1e TYecisu Ykj
1.500

PeV\,V\,SkjLVCIV\,LCI
Ave., NW

wcisl1LV\,gtoV\,, DC. 20220
TeL: b(6)

c.eLL:

,Y

tVv1.,Cl[

Cl.SUV •

V

@mail.house.gov ]

To:• •

treasur . ov >; Hulse, Bill <Bill.Hulse@mail.house.gov >
>; Heitlinger, David

Cc: Bailey, Bradley <Bradley.Bailey@treasury.gov

<David .Heitlinger@ma ii .house.gov >

AIVlt:.til

.1AI

UST 000769
PVERSIGHT

TREAS-17-0313-E-000035

 Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

Good morning!
Thank you for the list of available dates. Could we confirm Tuesday, Sept. 5 at 4:00 pm - 5:00 pm? Let
me know if Sec. Mnuchin is still available for that date and time. Thank you for all of your assistance.

-

Best,

••

I Executive

Assistant

U.S. Representative Randy Hultgren (IL-14)
2455 Rayburn I Washington, DC 20515
Office: (202) 225-2976

I Facebook I Twitter

Website

From: • •
treasu . ov [mailto
Sent: Thursday, August 17, 2017 8:41 AM
To: Hulse, Bill
Cc: , •
Bradley.Bailey@treasury.gov; Heitlinger, David
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

ov]

Good morning Bill! Just circling back to update on the dates/times

offered for this meeting.

I am holding Tuesday, Sept.

sth from

4:00-5:00 as well as Wednesday, Sept. 6th from 3:00-4:00. The

option for Thursday, Sept. 7th will no longer work due to another meeting that has been scheduled.
We can also offer the following week, Wednesday, Sept. 13th between 3:30 -6:00 if that might work.
Please let me know. Thanks much!

From: b(6)
Sent: Thursday, August 03, 2017 12:16 PM
To: 'Hulse, Bill' <Bill.Hulse@mail.house.gov >

Cc:• •
mail.house. ov >; Bailey, Bradley
<Bradley.Ba iley@treasury.gov >; Heit Ii nger, David <David .Heitlinger@maii.house.gov
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

>

Yes, sorry for the delay. Here are a few options that currently work for the Secretary's schedule that
week:
Tuesday, Sept. sth at 4:00pm
Wednesday, Sept. 6th between 3:00-5 :00pm
Thursday, Sept. 7th between 1:00-3:00
Let me know if one of the options above might work for the group. Thanks very much!
b(6)

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TREAS-17-0313-E-000036

 From: Hulse, Bill [mailto:Bill.Hulse@mail.house.gov
]
Sent: Thursday, August 03, 2017 11:32 AM
To:lffld
@treasury.gov >
Cc:jffl;j
@mail.house.gov >;Bailey, Bradley
<Bradley.Ba iley@treasury.gov >; Heit Ii nger, David <David .Heitlinger@maii.house.gov
Subject: RE: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

>

Hello ~
I know it's a little ways out, but can we look at scheduling a meeting with the Secretary for the week
of September 4? Congress is in recess until that time. We hope to provide some advance notice to
other members of the Caucus to help ensure we have good attendance.
Thank you,
Bill

From: Bradley.Bailey@treasury.gov[mailto:Bradley.Bailey@treasury.gov
J
Sent: Friday, July 21, 2017 3:14 PM
To: Hulse Bill· Heitlinger, David
Cc: , •
treasu . ov
SubJec :
: ec. Mnuchin Mtg Request- Municipal FinanceCaucus
Hi Bill and David,
Secretary Mnuchin would be glad to meet with the caucus. I'm looping in b(6)
team to coordinate scheduling.

from our

Best,
Brad
From: Hulse, Bill [mailto:Bill.Hulse@mail.house.gov
]
Sent: Monday, July 17, 2017 11:45 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Cc: Heitlinger, David <David.Heitlinger@mail.house.gov >
Subject: Sec. Mnuchin Mtg Request - Municipal Finance Caucus

Brad Attached is a meeting request from Congressman Hultgren and Congressman Ruppersberger, the CoChairs of the Municipal Finance Caucus, to discuss tax reform. Specifically, Members of the Municipal
Finance Caucus would appreciate the opportunity to discuss the tax-exempt status of municipal
bonds in advance of the Administration releasing a more detailed policy proposal regarding
comprehensive tax reform. You and I touched base on the issue earlier this year.
Please let David and I know how we can help facilitate this meeting.
Thank you,
Bill

Bill Hulse I Legislative Assistant
U.S. Representative Randy Hultgren (IL-14)
2455 Rayburn I Washington, DC 20515
Office: (202) 225-2976
J\IVILI

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TREAS-17-0313-E-000037

 Website Faceboolewitter

UST 000772 TREAS-17-0313-E-000038

Chan es
b(6)

From :

@treasury.gov>

To:

"Angus, Barbara" <barbara.angus@mail.house.gov>, Mark Prater
<mark_prater@finance.senate.gov>, "Muzinich, Justin" <justin.muzinich@treasury.gov>,
"Kowalski, Danie l" <danie l.kowalski@treasury.gov> , "Callas , George"
<george.callas@mail.house .gov>

Cc:

'Wes t, Thomas" <thomas .west@treasury . ov> , "Dunn. Brendan (McConnell) "
<brendan_dunn@mcconnell.senate.gov>,

Date :
Attachments:

Wed , 30 Aug 2017 10:19:33 -0400
Summary of Changes Requested in 8-28 Meeting clean sent.pdf (108.3 kB)

Hi,

:
• •

•

1.,

b(5)

:

:

.

b(5)

Thanks,
-

tal

TREAS-17-0313-E-000039

 IRS Gliders
From:

"Toomey, Jon" <jon.toomey@mail.house.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>
b(6)
, treasury.gov>

Cc:
Date:

2017 12:34:09 -0400

Attachments:

Overview-8-29-17.pdf (428.72 kB)

Hi Brad,
Attached is another brief on the b(5)

that might be helpful when sharing.

Thanks again,
Jon

Jon Toomey
Legislative Counsel
Jon.Toomey@mail.house .gov
Congressman Diane Black (TN-06)
1131 Longworth HOB
Washington, DC 20515
202.225.4231 (phone) I 202.225.2887 (fax)

AMERICAN
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TREAS-17-0313-E-000040

 Tax Reform Working Group
Where:

H-208 (dial in below)

When:

Thu Aug 31 15:30:00 2017 (America/New_ York)

Until:

Thu Aug 31 17:30:00 2017 (America/New_ York)

Organiser:

"Angus, Barbara" <barbara.angus@mail.house.gov>

Required Attendees:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>
"Kowalski, Daniel" <daniel.kowalski@treasury.gov>
"Muzinich, Justin" <justin.muzinich@treasury.gov>
"Callas, George" <george.callas@mail.house.gov>

Optional Attendees:

"West, Thomas" <thomas.west@treasury.gov>
"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>
•-•
- ••• m .••.••••
b(6)
@treasury.gov>
"Kautter, David" <david.kautter@treasury.gov>

Passcodes/Pin codes:

I

Participant passcode: -

For security reasons, the passcode will be required to join the conference.

Dial in numbers:

Country

Toll Numbers

Free phone/
Toll Free Number

I.-U-S-A-----------.------.-------------1,-m---~--~

AMERICAN
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TREAS-17-0313-E-000041

 RE:

b(5)

From:

"Trier, Dana" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3fb4cbf9d 1c84bb08776ff0c42348329-trier, dana">

To:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>,

Cc:

"Stegmaier, Jason (Finance)" <jason_stegmaier@finance.senate.gov>

Date:

Thu, 31 Aug 2017 08:54:28 -0400

All, I am assuming we are on for ~

barbara.angus@mail.house.gov

at 10 in S124, today Thursday.

From: Prater, Mark (Finance) [mailto:Mark_Prater@finance.senate.gov]
Sent: Monday, August 28, 2017 10:18 AM
To: Trier, Dana <Dana.Trier@treasury.gov>; Barbara.Angus@mail.house.gov
Cc: Stegmaier, Jason (Finance) <Jason_Stegmaier@finance.senate.gov>
Subject: RE: Tax Exempts

Hey Barbara ,
Will do. Pulling in our office manager, Jason, to secure it.

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: Dana.Trier@treasury.gov
Date: 8/28/17 9:08 AM (GMT-05:00)
To: Barbara.Angus@mail.house.gov , "Prater, Mark (Finance)"
<Mark Prater finance.senate. ov>
Subject: RE:
That is all fine with me. b(5)
Dana

From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov
]
Sent: Monday, August 28, 2017 9:04 AM
To: Trier, Dana <Dana.Trier@treasury.gov >; Mark Prater@finance.senate.gov
Subject: RE:,

b(5)
--------------------------

b(5)

Mark, in keeping with our schedule of alternating hosting responsibilities,
Tuesday and Friday. Can you got S124 for Thursday?

I've requested H208 for

b(5)

Thanks!

AMERICAN
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TREAS-17-0313-E-000042

 Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
From: Dana .Trier@treasury.gov
Sent: August 28, 2017 8:58 AM
To: Ang
Subject:

Barbara and Mark,
~g

[ma ilto :Dana .Trier@treasury.gov ]
. ov >; Mark Prater@finance.senate.gov

formally scheduled yet for tomorrow

on b(5)

Tom West is out all week so you should probably send notices to me.
Dana Trier

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UST 000777
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TREAS-17-0313-E-000043

 RE: Quick Chat
From:

"Kowalski, Daniel" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=cf6b4ee371 0f422fbceecb0020766838-kowalski,

To:

"Brown, Clint (Lee)" <clint_brown@lee.senate.gov>

Date:

Fri, 01 Sep 2017 13:39:56 -0400

dan">

Hi Clint. Yes, I have time for you. I'm hoping to get out around 4 today, but you can call me before
then at 202-622-0992.
From: Brown, Clint (Lee} [mailto:Clint_Brown@lee.senate.gov]
Sent: Friday, September 01, 2017 12:47 PM
To: Kowalski, Daniel <Daniel.Kowalski@treasury.gov>
Subject: Quick Chat

Hey Dan,
I hope you're well! Do you have about 10 minutes to chat sometime today? As you're probably aware, Senator
Lee has been invited to a meeting next week on tax reform at ATRwith lvanka, Senator Rubio, and others.
b(5)

I would ~e
you a call or please feel free to call me at your convenience.
Mobile:~
Desk Line: 202-228-0274
Thank you,
Clint Brown
Senate Steering Committee

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TREAS-17-0313-E-000044

 Draft A enda
From :
To:

"Knight, Shahira E. EOP/WHO"

>

"Muzin ich, Justin" <justin.muzinich@treasury .gov>, "Callas, George"
<george.callas@mail.house.gov> , "Angus, Barbara" <barbara .angus@mai l.house.gov> ,
"Brendan M. Dunn (Brendan_Dunn@mcconnell.senate .gov)"
<brendan_dunn@mcconnell .senate.Qov>, mark__
prater~finance.senate .gov, "Koenig,
Andrew D. EOP/WHO"
>

Date:

Thu, 07 Sep 2017 08:16 :30 -0400

Attachments:

Big 6 Draft Agenda.docx (13.86 kB)

Per our discussion yesterday . Please let me know if you have additional comments/ changes . Thanks .

TREAS-17-0313-E-000045

 RE: Draft A enda
From:

"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>

To:

"Muzinich, Justin" <justin.muzinich@treasury.gov>, barbara.angus@mail.house.gov,
, geor e.callas@mail.house.gov, "Prater, Mark (Finance)"
<mar _pra er mance.sena e.gov> ,
Thu, 07 Sep 2017 10:05:32 -0400

Date:

Thanks Justin.
Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader
-----Original Message----From: Justin.Muzinich@treasury .gov [mailto:Justin.Muzinich@treasury.gov]
Sent: Thursday , September 07 , 2017 9:36 AM

To: Barbara.Angus@mail.house.gov;
Dunn, Brendan (McConnell) <Brendan_____!!Dn
<Mark_Prater@finance.senate.gov>;
Subject: RE: Draft Agenda
b(5)

-----Original Message----From: Angus, Barbara [mailto:Barbara.Angus@mail.house.gov]
Sent: Thursday, September 07, 2017 8:22 AM
To: Knight, Shahira E. EOP/WHO
>; Muzinich, Justin
<Justin.Muzinich@treasury.gov>; a as, eorge < eorge . a as mail.house.gov>; Brendan M. Dunn
(Brendan_Dunn@mcconnell.senate.gov) <Brendan_Dunn@mcconnell.senate.gov>;
mark_prater@Finance.senate.gov; Koenig, Andrew D. EOP/WHO
>
Subject: Re: Draft Agenda
Thanks, Shahira. The draft looks good.
Barbara M. Angus
Chief Tax Counsel
Committee on Ways and Means
202.225.5522
On 9/7/17, 8:16 AM, "Knight, Shahira E. EOP/WHO"

> wrote:

>Per our discussion yesterday . Please let me know if you have additional comments/changes. Thanks.
>

TREAS-17-0313-E-000046

 Re:
From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Muzinich, Justin" <justin.muzinich@treasury.gov>

Date:

Sun, 10 Sep 2017 13:54:12 -0400

Attachments:

template-straw man-committee table 08.23.17 FINAL.docx (34.03 kB)

Attached.

From: Justin Muzinich <Justin.Muzinich @treasury.gov >
Date: Sunday, September 10, 2017 at 11 :29 AM
To: "Callas , George" <George.Callas @mail.house.gov >
Subject: Re: RE: RE:
As mentioned a week ago or so, I shared the template whim ..

From: Callas, George <George.Callas @mail.house.gov >
Date: September 10, 2017 at 11 :23 :46 AM EDT
To: Muzinich, Justin <Justin.Muzinich @treasury.gov >
Subject: Re: RE: RE:
To which changes are you referring?
On Sep 10, 2017 , at 11 :06 AM, "Justin.Muzinich@treasury.gov "
<Justin.Muzinich@treasury.gov > wrote:
lease send word version of this?
FYI our

From: Callas, George <George.Callas@mail.house.gov >
Date: September 1, 2017 at 12:28:38 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury.gov
>
Subject: RE: RE:

From: Justin .M uzi n ich@treasury.gov [ma i lto:Justin .M uzi n ich@treasury.gov ]
Sent: Friday, September 01, 2017 12:17 PM
To: Callas, George
Subject: RE:

Yes thx

From: Callas, George <George.Callas@mail.house.gov >
Date: September 1, 2017 at 12:10:07 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury.gov >

AMt.t~ll..,A
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TREAS-17-0313-E-000047

 Subject: RE:
Are you talking about the table?
From: Justin .Muzi n ich@treasury.gov

[ma i lto:Justin .Muzi n ich@treasury.gov ]

Sent: Friday, September 01, 2017 12:05 PM
To: Callas, George

Subject:

George - can you send me that 7 page summary of items for our 3-5 pager again?
Thanks.

AMERICAN
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TREAS-17-0313-E-000048

 Re: <no sub'ect>
From :

"Muz inich , Just in" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7 e464fbd30ff8dbedefecb-muzinich,

To:

"Dunn, Brendan (McConnell)" <brendan _dunn@mcconnell.senate.gov>

Date :

Sun, 10 Sep 2017 20:06:20 -0400

jus">

Thank you!

From: Dunn, Brendan (McConne ll) <Brendan_Dunn@mccon nell.senate.gov>
Date: Septembe r 10, 2017 at 7:58:57 PM EDT
To: Kowa lski, Daniel <Daniel.Kowalski@treasury.gov>, Shahira Knight
Justin <Justin.Muzinich@treasury .gov>
Subject :

>, Muz inich,

Result of a group effort.
Can probably be tightened.
But this is a good working narrative.
Talkers for SFC GOP Budget Meeting

TREAS-17-0313-E-000049

  

UST 000784 TREAS-17-0313-E-000050

RE: tax advocac
From:

"Bailey, Bradley" <"/o=ustreasury/ou=exchange administrative group
(fyd ibohf23spd lt)/cn= recipients/en=? eb678b02d9b41 c0af365038a082c58e-bailey, brad I">

To:

"Cole, Becky (Budget)" <becky_cole@budget.senate.gov>

Date:

Wed, 13 Sep 2017 15:42:09 -0400

Let me see what might work
From: Cole, Becky (Budget} [mailto:Becky_Cole@budget.senate.gov]
Sent: Wednesday, September 13, 2017 1:19 PM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov>
Subject: tax advocacy

Brad b(5)

Thanks Becky
X81455

Becky Cole
Chief Economist
Senate Committee on Budget
624 Dirksen Senate Office Building
Washington, DC 20510
(202) 224-0642

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TREAS-17-0313-E-000051

 A letter to Secretar y Mnuchin
From:

"Herman, Elizabeth (McCaskill)" <elizabeth_herman@mccaskill.senate.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Cc:

"Distefano, Nichole (McCaskill)" <nichole_distefano@mccaskill.senate.gov>

Date:

Wed, 13 Sep 2017 18:16:15-0400

Attachments:

2017-09-13 Letter - White House -Treasury-Tax

Reform.pdf (1.4 MB)

Hi Brad
We have a letter to the Secretary sent on behalf of the 12 Democrats on the Senate Finance Committee
attached .
Please forward along.
Thank you.
Liz

Elizabeth Herman
Legislative Counsel
Senator Claire McCaskill
202-228-6474
Elizabeth Herman@mccaskill.senate .gov

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 tinitrd~tatrs~rnatr
WASHINGTON, DC 20510

September 13, 2017

The Honorable Steven T. Mnuchin
Secretary of the Treasury
U.S . Department of the Treasury
1500 Pennsylvania Avenue , NW
Washington , DC 20220

Mr. Gary D. Cohn
Chief Economic Advisor
The White House
1600 Pennsylvania A venue, NW
Washington, DC 20500

Dear Secretary Mnuchin and Mr. Cohn:
Tax reform is a priority for the Members of the Senate Finance Committee. At meetings and
hearings before our Committee we have emphasized our interest in both actively participating in
the tax reform process and in preserving the Senate ' s regular legislative process for this
important work. Reports of your meeting with the Republicans of the Senate Budget Committee
further demonstrates the validity of our concern that tax reform will be an effort that ignores the
regular legislative process .
As you know , the tax code was last the subject of comprehensive redrafting more than 30 years
ago. Valuable lessons could be learned from the successful tax reform work done in that era. At
that time , the White House and Treasury Department were active partners with the House and
Senate. In fact , the Treasury Department worked closely with the White House to present
concrete ideas to Congress. In December 1984, the Treasury Department publicly released
"Treasury I," its first very detailed tax reform outline. In May 1985, the White House presented
to Congress "Treasury II," a second detailed , formal tax reform proposal based on the work of
the Administration. Treasury II became the basis for the tax reform work by the committees of
jurisdiction. The Ways and Means Committee released their own bill in December 1985 and the
Senate Finance Committee updated that work with legislation in May 1986.
The tax reform efforts of 30 years ago were successful. Ifwe are going to go down the same
path and engage in comprehensive reform with real results , we need willing partners in the
Administration . Real reform begins with a thorough examination of the tax code. This will
require putting in the work and making real decisions about the design of our tax system.
Participants who offer detailed proposals are far more important to the process than those who
just cheer from the sidelines.
Open , detailed conversations are necessary to accomplish our shared goals , and we want to be
partners in this process. Therefore, we respectfully request that you provide a timeline as to
when we can expect the Administration to present detailed proposals for tax reform, so that we
can together pursue our shared goal of creating a simpler , more progressive , more competitive
tax code for our nation .
Sincerely ,

AMER CAN

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TREAS-17-0313-E-000053

 United States Senator

Maria Cantwell
United States Senator

Bill Nelson
United States Senator

do~

Thomas~
United States Senator

Benjamin L. Cardin
United States Senator

Michael F. Bennet
United States Senator

Sherrod Brown
United States Senator

tJh1__
~,~.
Robert P. Casey, Jr:
United States Senator

/lt(.J..I: I,}~
Mark R. Warner •
United States Senator

cc :

Claire McCaskill
United States Senator

Hon . Orrin G. Hatch
Chairman , Senate Finance Committee
Hon. Mitch McConnell
Majority Leader

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TREAS-17-0313-E-000054

 Letter to Secretar y Mnuchin on Rothification Proposals
From:

"Johnson, Alex (Brown)" <alexjohnson@brown.senate.gov>

To:

"Maloney, Drew" <drew.maloney@treasury.gov>

Cc:

"Bragin, Gideon (Brown)" <gideon_bragin@brown.senate.gov>

Date:

Thu, 14 Sep 2017 13:45:57 -0400

Attachments:

RothificationletterToBig6Sep142017.pdf

(510.01 kB)

Hi DrewMy name is Alex Johnson and I work on tax issues with Gideon Bragin in Senator Brown's office.
Please find attached a letter from Senators Brown, Wyden, Stabenow, Cardin, and Casey regarding tax
reform and so-called "rothification" proposals. Please let Gideon or me know if you have any
questions.
Thanks.
Alex

Alex Johnson I Legislative Aide I U.S. Senator Sherrod Brown (OH) I 202-224-2315
713 Hart Senate Office Building I Washington, DC 20510
Stay Connected with Senator Brown:

11W'a

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 tinitcd~tatrs~rnatr
WASHINGTON , DC 20510

September 14, 2017

The Honorable Steven T. Mnuchin
Secretary of the Treasury
U.S. Department of the Treasury
1500 Pennsylvania A venue , NW
Washington , DC 20220

Mr. Gary D. Cohn
Chief Economic Advisor
The White House
1600 Pennsylvania A venue , NW
Washington, DC 20500

Senator Mitch McConnell
Senate Majority Leader
317 Russell Senate Office Building
Washington , DC 20510

Representative Paul D. Ryan
Speaker of the House
1233 Longworth HOB
Washington, DC 20515

Senator Orrin Hatch
Chairman
Senate Finance Committee
219 Dirksen Senate Office Building
Washington , DC 20510

Representative Kevin Brady
Chairman
Committee on Ways and Means
1102 Longworth HOB
Washington, DC 205 I 5

Dear Secretary Mnuchin , Mr. Cohn , Leader McConnell , Speaker Ryan , Chairman Hatch and
Chairman Brady:
As you consider options for building a fair and progressive tax code , while maintaining fiscal
responsibility , we urge you to reject any proposal that would reduce or eliminate incentives for
working families to save for retirement. Millions of Americans rely on 401 (k)s , IRAs , and other
plans to save for their retirement and their family ' s future. Putting those savings vehicles - and
the financial security of seniors - at risk is antithetical to the spirit of tax reform . Tax cuts for
corporations and the wealthiest Americans should not be paid for by increasing taxes on middle
class families saving for retirement.
For many hardworking Americans , the tax incentive for retirement savings is a criticallyimportant tool for building long-term financial security. Four out of five households say the
incentiv es and favorable tax treatment of their retirement accounts encourage them to save. At a
time when working families are already struggling to get ahead , reducing or taking away taxdeferred retirement savings options could have significant long-term consequences .
We are particularly concerned about rumored proposals to eliminate the traditional , tax-deferred
treatment of 401 (k) and IRA contributions and mandate the use of after-tax , Roth accounts . Roth
accounts can be a better tool under certain circumstances for retirement saving. However , this is
not always the case for all families. The current practice of allowing families the freedom to
choose the type of retirement tool that is most beneficial for them based on their unique
circumstances makes sense given this dynamic. Tax reform should preserve this freedom and
not end it.
Families today are already not saving enough for retirement, and we are concerned that
mandating Roth savings will diminish their ability to save even further. Those with limited

AMERICAN

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TREAS-17-0313-E-000056

 discretionary income will need to reduce their current level of saving to afford the immediate
taxes due on their savings, or they will need to reduce other necessary spending , such as on
education, child care and housing costs . To the extent that these affected savers are small
business owners, they may decide it is not worth the annual cost and time to establish and
maintain a retirement plan at all , which will have the cascading effect of reducing workplace
saving options and saving rates for their employees.
Importantly , both the tax-cut and the revenue generated by mandating Roth accounts is a mirage
and will not deliver an immediate income boost for many in the middle class . Even if you
assume that all of the benefits of tax reform will accrue to the middle-class, the " rothification"
proposal makes those tax cuts a shell game - reducing current take-home pay with one hand for
those that need to maintain their current level of savings while cutting their tax rates with the
other. At worst , it is theft , reducing the take home pay for working families to finance tax cuts
for the wealthy .
We are also concerned that from a fiscal perspective mandating Roth savings is a sham. As you
know , retirement plan contributions are tax deferred , not tax exempt. This proposal is a budget
gimmick that lets Congress raise revenue by pushing income recognition from outside the tenyear budget window to inside the ten-year budget window . This is not revenue on which tax cuts
should be based. Using this revenue to pay for tax cuts will require future taxes to make up for
revenue lost outside the budget window , or will require painful budget cuts to critical programs,
such as in Medicaid, assistance for higher education, and disaster recovery.
Tax reform should increase working families ' take-home pay, encourage savings , grow jobs and
the economy, reward companies that invest in American workers and their communities , and
maii1tain sound fiscal policy . So-called "rothification " ofretirement savings fails that test on all
counts.
Sincerely ,

LJ~

£-,..W~
Ron Wyden

Sherrod Brown
United States Senator

United States Senator

4,.~--

~
't! est

United States Senator

U),,.4 .~
~
Robert P. Casey, Jr. 48

~J~

enj aminC Cardin
United States Senator

1

United States Senator

AMf-HICAN

UST 000791
HT
VERSIG

TREAS-17-0313-E-000057

 Re: RE: Re:
From:

"Reiser, Martin" <martin.reiser@mail.house.gov>

To:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Date:

Thu, 14 Sep 2017 14:46:40 -0400

•
Sent from my iPhone
On Sep 14, 2017, at 2:10 PM, "Bradley.Bailey@treasury.gov " <Bradley.Bailey@treasury.gov > wrote:

Ben Howard wants to join as well. I changed the calendar invite to a conference call line instead of
just calling you.
From: Reiser, Martin [mailto:Martin.Reiser@mail.house.gov
Sent: Thursday, September 14, 2017 1:07 PM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Re:

]

-

From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Thursday, September 14, 2017 1:06 PM
To: Reiser, Martin <Martin.Reiser@mail.house.gov
>
Subject: RE: Re:

What is the best number to call?
From: Reiser, Martin [mailto:Martin.Reiser@mail.house.gov
Sent: Wednesday, September 13, 2017 10:54 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: RE: Re:

]

That works!
From: Bradley.Ba iley@treasury.gov [ma i lto:Brad ley.Ba i ley@treasury.gov ]
Sent: Wednesday, September 13, 2017 10:37 AM
To: Reiser, Martin <Martin.Reiser@mail.house.gov
>
Subject: RE: Re:

How about afternoons? 4pmish?
From: Reiser, Martin [mailto:Martin.Reiser@mail.house.gov
Sent: Monday, September 11, 2017 9:32 AM
To: Bailey, Bradley <Bradley.Bailey@treasury.gov >
Subject: Re:

Yes. That makes a lot of sense. Yeah, I am flexible on time.

]

I will just throw out Thursday afternoon?

Sent from my iPhone
On Sep 11, 2017, at 8:20 AM, " Bradley.Bailey@treasury.gov
T'\IVILI

" <Bradley.Bailey@treasury.gov

> wrote:

✓/

UST 000792
PVERSIGHT

TREAS-17-0313-E-000058

 Would you be interested in starting to do a weekly check -in? Figure phone is fine for most of
them. At the very least I want to make sure you are aware of what we are up to on tax reform.
Doesn't matter what day/ time.
Brad Bailey
Deputy Assistant Secretary for Tax and Budget
Office of Legislative Affairs
U.S. Department of the Treasury
Bradle .baile
treasur . ov

C: •
0: (202} 622-2878

AMERICAN

UST 000793
PVERSIGHT

TREAS-17-0313-E-000059

 b(5)

From:

"Callas, George" <george.callas@mail.house.gov>

To:

"Muzinich, Justin" <justin.muzinich@treasury.gov>

Date:

Sat, 16 Sep 2017 10:13:51 -0400

Are you available for a quick chat today?

AMERICAN
UST 000794
PVERSIGHT

TREAS-17-0313-E-000060

 Feedback effects of tax bills
From:

"Kowalski, Daniel" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=cf6b4ee371 0f422fbceecb0020766838-kowalski,

dan">

To:

"Cole, Becky (Budget)" <becky_cole@budget.senate.gov>

Cc:

Matt Giroux <matthew_giroux@budget.senate.gov>

Date:

Mon, 18 Sep 2017 13:11 :54 -0400

Attachments:

Dynamic Response to Past Tax Bills 1-15-17 data indexed to 2017 dollars.docx (22.52
kB); tax revenue and GDP post tax cuts 1-15-17.xlsx (38.36 kB)

I did some extracurricular work earlier this year on the feedback effects of past tax bills based on
research from IRETthat Steve Robinson pointed me to. You may find it helpful in budget prep.
IRET finds that the Bush tax cuts paid for themselves, and the Reagan cuts came close. A one-page
summary of that research is attached. I believe I have hard copies of the papers back at home if you
need them
In addition, one can point out that both revenues and GDP have increased after major tax cuts. I've
attached and copied below a table that shows the correlation. It is worth noting that the annual
growth in tax receipts is greater than nominal GDP growth 5 years after the tax cut.
Tax Revenues and GDP Have Increased After Major Tax Cuts

(By fiscal year in billions of dollars)

Kennedy {1962-1964)

Total Revenues

GDP

Revenues as %
of GDP

1964

112.6

662.9

17.0%

1965

116.8

710.7

16.4%

1966

130.8

781.9

16.7%

1967

148.8

838.2

17.8%

1968

153.0

899.3

17.0%

1969

186.9

982.3

19.0%

10.7%

8.2%

5-year avg. growth

Reagan {1981, 1982 and 1984)

Total Revenues

GDP

Revenues as%
of GDP

1984

666.4

3952.8

16.9%

1985

734.0

4270.4

17.2%

1986

769.2

4536.1

17.0%

1987

854.3

4781.9

17.9%

1988

909.2

5155.1

17.6%

AMERICAN
UST 000795
PVERSIGHT

TREAS-17-0313-E-000061

 1989

991.1

5570.0

5-year avg. growth

8.3%

7.1%

17.8%

Bush (2001 and 2003)

2003
2004
2005
2006
2007
2008*

Total Revenues
1,782.3
1,880.1
2,153.6
2,406.9
2,568.0
2,524.0

GDP
11,332.4
12,088.6
12,888.9
13,684.7
14,322.9
14,752.4

5-year avg. growth

7.2%

5.4%

Revenues as %
of GDP
15.7%
15.6%
16.7%
17.6%
17.9%
17.1%

*--2007-2009 recession began in first quarter of fiscal year 2008.

AMERICAN

UST 000796
PVERSIGHT

TREAS-17-0313-E-000062

 The BudgetEffectsof Tax Law Changes
The Institute for Research on the Economics of Taxation (IRET) in 2011 published studies that looked at
the long run (fully-effective)

annual revenue yield of the tax cut programs of the Kennedy, Reagan and

George W . Bush administration

compared with the tax law in effect just prior to the change.

The IRETfound that the Kennedy tax cuts of 1962 and 1964 recouped 68 percent of their cost from the
dynamic GDP response (annual cost in 2017 dollars of $159.5 billion static and $50.9 billion dynamic).
Those tax cuts gave corporations more meaningful depreciation schedules and added investment tax
credits; the dynamic response reduced the cost of the corporate tax reductions by 97 percent.
Individuals received across-the-board

reductions in income tax rates, but still faced a top marginal tax

rate of 70 percent; the dynamic response reduced the cost of the individual income tax reductions by 47
percent.
The tax cuts of the first Reagan administration

(1981, 1982, and 1984) recouped 90 percent of their cost

by IRET's reckoning (annual cost in 2017 dollars of $303 .7 billion static and $31.2 billion dynamic) . The
Economic Recovery Tax Act of 1981 (ERTA) reduced marginal income tax rates, indexed tax parameters
for inflation, provided a second earner deduction for married couples, liberalized individual retirement
accounts (IRAs), and provided for accelerated depreciation and increased investment tax credits . The
Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the Deficit Reduction Act of 1984 (DEFRA)
cut back on the depreciation and investment incentive provisions of ETRA and prior law . IRET also
concludes that the revenue increase due to higher GDP would have come very close to paying for the
cost of the 1981 tax bill, but does not quantify the dynamic response for ERTA alone.
The 2001 and 2003 Bush tax cuts - the Economic Growth and Tax Relief Reconciliation Act of 2001
(EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)- more than paid for
themselves in the IRET model, recouping 103 percent of their cost (annual cost in 2017 dollars of $262 .0
billion static and a savings of $7.2 billion dynamic) . The Bush tax cuts reduced marginal income tax
rates, provided marriage penalty relief, increased the Earned Income Tax Credit (EITC) and the Child Tax
Credit, lowered taxes on capital gains and dividends, and enhanced expensing of business equipment.

AMERICAN

UST 000797
PVERSIGHT

TREAS-17-0313-E-000063

 A

B
C
D
E
F
Tax Revenues and GDP Have Increased After Major Tax Cuts
·····························-···················
·······················
··················································
·······················
······-·················
············
2 ....................................
(By fiscal........................
year in billions
of dollars)
...............
........................
.....
.
..................
.
,
.......................
.....
.
..,.
.................
............
.
.
.
.
.

1

3
4
5

..
.

...
..
i

i

l

..
.

...
..
i

i

...
..
i

l

Kennedy (1962-1964)

:::::::::::::::::::::::::::::r:::::::::::::::::::::::::::::!::::::::::::::::::::::::::::::!::::::::::::::::::::::::::::::!:::
l

l

Total

l

l Revenues as l

J......... .......

!...................
.........L...

6 .............................
Revenues ....
~ ...!
.....
%.of G_DP
.....
7 .............................l ..................1964 \..................1.12.6\..................662.9) ................17.0%\ ..................
...........
i
1965j
116.8j
710.J:
16.4%j
8

!............................
.

...........
1966!_.................130.8\ ..................781.9) ................16.7%\ ..................
...........
9 .............................i .......
10
l
1967!
148.8\
838.2\
17.8%\

r...
....
...........
19681..................153.ol ..................899.3J ................17.o%f ..................
...........
1969\
186.9\
982.3\
19.0%\

11 .............................
12
l

:::::::
:::::::
:::::::::::
::::
r:::::::
::::::::::::
:::::
:::::1:
:::::::::::::
:::::::::::
:::::!:::::
::::::
:::::::
:::::::::::}
::::
:::::::
::::::::::::
:::::
:r::::
:::::::::::::
::::
:::::::
:
14

5-year avg. growth\

10.7%\

8.2%\

l

15
16

:::::
:::::::::
:::::::::::
::::I::::
:::::::::::::::
::::::::::1::::::::::::
:::::::::::::::
:::1:::::
::::::::::::::::
::::::::J:
::::::::::::::
:::::::
::::::
:r::::
::::::::::::
:::::::::::::

17

:::::::::::::::::::::::::::::r:::::::::::::::::::::::::::::1::::::::::::::::::::::::::::::!::::::::::::::::::::::::::::::r::

l

Reagan (1981, 1982 and 1984)

l

!

Total

l

\

! Revenues as !

18 .........................
....i....
...............
..........!.....Revenues .....!........
..~ ........
..!.....%.of G_DP.....i.................
......
.....
19
\
1984\
666.4\
3952.8\
16.9%\

..........
...............
...rl.....
...
...........
19851..................734.oL .............427o.4.f ................17.2%f .......................
......
1986\
769.2\
4536.1\
17.0%\
i

1987j

854.3j

4781.9j

17.9%:

lJ................
17. 6% \............................
.

.........................
....\ ..................1988 \..............
....909.2\ ...............5155.
l
1989\
991.f
5570.ol

17.8%\

::::::::::
::::
:::::::::::
::::r::::
:::::::::::::::
::::::::::1::::::::::::
::::::::::::::
::::~::::::::
::::::::::::
::::::::::r::
::::::::::::
::::::::::
::::
:r::::::::
::::::::::
::::::::::
:
5-year avg. growth \

I

8.3%\

7.1%!

1
Bush (200~ and 2003)

r

l

r

:::::::::::::::::::::::::::::r:::::::::::::::::::::::::::::1::::::::::::::::::::::::::::::!::::::::::::::::::::::::::::::r::
j

j

Total

j

j Revenues as j

.........................
....\...................
.........!.....Revenues ....J.....
....~ .........
).....%.of G_DP.....\.............................
l

2003\

1,782.3\

11,332.4\

15.7%\

--·· ·· · • ·- -- · - ----------- ·· •• ❖ •-·- --- -----------· ·· ·· · · -- ·- ~ ------------·· ·· ···- -- ·- - -----1----- · ·· ·· ···- -- ·------------ ·> ·· ·· ·-·- -- ·-----------· ·· ·· • • ❖ •- -- -----------·· ·· ···- -- ·- - -

.........................
....l ..................2004!_.............1,880.1\ ........... 12,088.6) ................15.6%\ .............................
l
2005\
2,153.6\
12,888.9\
16.7%\
j
2006\
2,406.9\
13,684.7\
17.6%\
j
2007\
2,568.0\
14,322.9\
17.9%\
- · ·· ··· · ·- ---- ----------- ·· •• ❖ •-·- --- -----------· ·· ·· · · -- · -~- -----------·· ·· ···- -- · -- -----1-----· ···· ·· ---- · - ----------- · t ···· ·- ---- ·-----------· ····· • ❖ ---- -----------·· ···· · ------ -

:::::::::::::::::::::::::::::
!::::::::::::::::2008
* !::::::::::::::
2,524.0 !:::::::::::14, 752.4 :!:::::::::::
:::::17 .1% !::::::::::::::::
:::::::::::::
5-year avg. growth l
7.2%\
5.4%\
\

:::::::::::::::::::::::::::::
l :::::::::::::::::::::::::::::(:::::::::::::::::::::::::::::1:::::::::::::::::::::::::::::J:::::::::::::::::
l *--2007-2009 recession began in first quarter of fiscal year 2008.

AMERICAN

UST 000798
PVERSIGHT

TREAS-17-0313-E-000064

 A

B

C

1
2
3

----

Fiscal Year

4

s 1934

6

1935

Individual
Income
Taxes
420
527

D

E

F

G

Table 2.1-RECEIPTS BY SOURCE: 1934-202
(in millions of dollars)
Social
Insurance and Retirement
Corporate
Excise
Receiots 2
Income
Taxes 2
(Off(OnTaxes 1
Total
D ,,.,.,.,,..+\
" "
364
529

f9 ~·:;~····················
..···········

30
31

30
31

1,354
1,439

····26s
··············~·::~~

···················1·,~;~.
···················1·,~~:
··················5~~
··················3~~
············

1938

101939
111940
121941
13 1942
14 1943
151944
161945
171946
131947

1,286
1,029
892
1,314
3,263
6,505
19,705
18,372
16,098
17,935

1,287
1,127
1,197
2,124
4,719
9,557
14,838
15,988
11,883
8,615

1,541
1,593
1,785
1,940
2,452
3,044
3,473
3,451
3,115
3,422

1,154
1,090
1,235
1,252
1,557
1,913
2,181
2,141
1,877
1,963

387
503
550
688
896
1,130
1,292
1,310
1,238
1,459

1,863
1,871
1,977
2,552
3,399
4,096
4,759
6,265
6,998
7,211

¥a-~·:::·································
................
~·;:;~~
················1
~:~;~ ··············;:;~~·.............~:~~~ ··············~·::~~············{;~~
211950
221951
e3 1952

15,755
21,616
27,934

10,449
14,101
21,226

4,338
5,674
6,445

2,232
2,554
2,851

2,106
3,120
3,594

7,550
8,648
8,852

261955
271956
~ 1957
~ 1958
30 1959
311960
321961
B31962
B41963

28,747
32,188
35,620
34,724
36,719
40,715
41,338
45,571
47,588

17,861
20,880
21,167
20,074
17,309
21,494
20,954
20,523
21,579

7,862
9,320
9,997
11,239
11,722
14,683
16,439
17,046
19,804

2,781
2,896
3,208
3,190
3,427
4,042
4,331
4,776
5,629

5,081
6,425
6,789
8,049
8,296
10,641
12,109
12,271
14, 175

9,131
9,929
10,534
10,638
10,578
11,676
11,860
12,534
13, 194

~ ~·:~1·····
······································~::~1~·
···
··········
·~·~:~~~ ··············~:~~~
..........~:~~~
. ·······
·····!:~:;
·········· ::::;

~ ~·:::······
····
···
····
···········
···········
·······!::~:~···············~;:::~
· ·······~~:;!~
········
····~:~~;
···
· ···~
···::~~~
··········~·1:;~~

371966
BB1967
B91968

401969
~ 1970
42 1971
431972
441973
~ 1974
~ 1975

55,446
61,526
68,726
87,249
90,412
86,230
94,737
103,246
118,952
122,386

30,073
33,971
28,665
36,678
32,829
26,785
32,166
36,153
38,620
40,621

25,546
32,619
33,923
39,015
44,362
47,325
52,574
63,115
75,071
84,534

6,460
8,217
9,007
10,062
10,903
11,481
12,667
17,031
21,146
22,077

19,085
24,401
24,917
28,953
33,459
35,845
39,907
46,084
53,925
62,458

13,062
13,719
14,079
15,222
15,705
16,614
15,477
16,260
16,844
16,551

~ ~~6
···············
· ··
· ··
· ······
......
.....1.;~::~~·
............
4~::~~
········
···;~:~~:
....
....
..2~:~~~ ······
····~::~~:
···········1·!:!~;

AME

491977
;"o 1978
;i" 1979
521980

UST 000799
VERSIGHT

157,626
180,988
217,841
244,069

54,892
59,952
65,677
64,600

106,485
120,967
138,939
157,803

29,668
35,576
40,945
44,594

76,817
85,391
97,994
113,209

17,548
18,376
18,745
24,329

TREAS-17-0313-E-000065

 A

B

53 1981
285,917
~4 1982
297,744
;"s 1983
288,938
~ 1984
298,415
571985
334,531
531986
348,959
~9 1987
392,557
;;o"1988
401,181
;;T 1989
445,690
~ 1990
466,884
1991
467,827
1992
475,964
1993
509,680
b6 1994
543,055
';;i1995
590,244
;;'s 1996
656,417
1997
737,466
1998
828,586
71 1999
879,480
2000
1,004,452
732001
994,339
742002
858,345
i752003
793,699
2004
808,959
2005
927,222
782006
1,043,908
792007
1,163,472
8()2008
1,145,747
$12009
915,308
82 2010
898,549
832011
1,091,473
842012
1,132,206
852013
1,316,405
~ 2014
1,394,568
87 2015
1,540,802
BS2016estimate
1,627,834
gg2017estimate
1,787,973
902018estimate
1,891,294
912019 estimate
1,984,967
92 2020 estimate
2,106,253
932021 estimate
2,221,927
1
Beginning in 1987, includes trust fund

63

64

fs'"

69
i70

n

76

n

C

D

E

F

61,137
182,720
52,545
130,176
49,207
201,498
58,031
143,467
37,022
208,994
61,674
147,320
56,893
239,376
73,301
166,075
61,331
265,163
78,992
186,170
63,143
283,901
83,673
200,228
83,926
303,318
89,916
213,401
94,508
334,335
92,845
241,491
103,291
359,416
95,751
263,665
93,507
380,047
98,392
281,655
98,086
396,015
102,131
293,884
100,270
413,688
111,263
302,426
117,520
428,299
116,366
311,934
140,385
461,475
126,450
335,026
157,004
484,473
133,394
351,079
171,824
509,414
141,922
367,492
182,293
539,371
147,381
391,990
188,677
571,831
156,032
415,799
184,680
611,833
167,365
444,468
207,289
652,852
172,268
480,584
151,075
693,967
186,448
507,519
148,044
700,760
185,439
515,321
131,778
712,978
189,136
523,842
189,371
733,407
198,662
534,745
278,282
794,125
216,649
577,476
353,915
837,821
229,439
608,382
370,243
869,607
234,518
635,089
304,346
900,155
242,109
658,046
138,229
890,917
236,908
654,009
191,437
864,814
233,127
631,687
181,085
818,792
253,004
565,788
242,289
845,314
275,813
569,501
273,506
947,820
274,546
673,274
320,731 1,023,458
287,893
735,565
343,797 1,065,257
294,885
770,372
292,561 1,100,796
303,139
797,657
418,734 1,141,206
314,338
826,868
492,783 1,191,135
327,864
863,271
525,231 1,239,676
341,467
898,209
574,727 1,286,481
354,627
931,854
582,375 1,351,811
371,595
980,216
receipts for the hazardous substance superfund.

G

40,839
36,311
35,300
37,361
35,992
32,919
32,457
35,227
34,386
35,345
42,402
45,569
48,057
55,225
57,484
54,014
56,924
57,673
70,414
68,865
66,232
66,989
67,524
69,855
73,094
73,961
65,069
67,334
62,483
66,909
72,381
79,061
84,007
93,368
98,279
96,821
110,060
142,897
152,578
164,624
178,202
In 1989

94 receipts .for the. supplementary. medical ..insurance .trust.fund ...............
................
......................................
...............
..

95

2

See Table 2.4 for additional details.
2.5 for additional details.

~ 3 See Table

AMERICAN

UST 000800
VERSIGHT

TREAS-17-0313-E-000066

 H

K

1 ...............................................................................................................
2
3

Total Receipts
Other

3

4
5 ..................788
.........
6
1,084

7
847
8
801
9 ··················
773
...........................
10
675

11
12
13

14
15
16
17
18
19

698
781
801
800
972
1,083
1,202
1,331
1,461
1,388
1,351
1,578
1,710
1,857
1,905
1,850
2,270
2,672
2,961
2,921
3,923
3,796
4,001
.............4,395
4,731
5,753
6,708
.............6,987
7,580
8,718
9,499
...........1o,1.85
12,355
12,026
13,737
...........14,998.
17,317
4,279
19,008
19,278
22,101
26,311

Total

(On-

(Off-

2,955 ............. 2,955 ...........................
3,609
3,609
3,923
3,923
5,387
5, 122
265
6,751
6,295
6,548
8,712
14,634
24,001
43,747
45,159
39,296
38,514
41,560
39,415
39,443
51,616
66,167
69,608
69,701
65,451
74,587
79,990
79,636
79,249
92,492
94,388
99,676
106,560
112,613
116,817
130,835
148,822
152,973
186,882
192,807
187,139
207,309
230,799
263,224
279,090
298,060
81,232
355,559
399,561
463,302
517,112

.............6,364 ..................387
5,792
503
5,998
550
8,024
688
13,738
896
22,871
1, 130
42,455
1,292
43,849
1,310
38,057
1,238
37,055
1,459
39,944
1,616
37,724
1,690
37,336
2,106
48,496
3,120
62,573
3,594
65,511
4,097
65,112
4,589
60,370
5,081
68,162
6,425
73,201
6,789
71,587
8,049
70,953
8,296
81,851
10,641
82,279
12,109
87,405
12,271
.......... 92,385 ...........14, 1.75
96,248
16,366
100,094
16,723
111,749
19,085
........124,420 ...........24,401.
128,056
24,917
157,928
28,953
159,348
33,459
........151_,294...........35,845
167,402
39,907
184,715
46,084
209,299
53,925
........216,633 ...........62,458
231,671
66,389
63,216
18,016
278,741
76,817
314,169
85,391
365,309
97,994
403,903
113,209

AME

UST 000801
VERSIGHT

TREAS-17-0313-E-000067

 H

I

J

K

28,659
599,272
469,097
130,176
33,006
617,766
474,299
143,467
30,309
600,562
453,242
147,320
34,392
666,438
500,363
166,075
37,020
734,037
547,866
186,170
40,233
769,155
568,927
200,228
42,029
854,287
640,886
213,401
43,987
909,238
667,747
241,491
48,321
991,104
727,439
263,665
56,174 1,031,958
750,302
281,655
50,657 1,054,988
761,103
293,884
55,717 1,091,208
788,783
302,426
50,778 1,154,334
842,401
311,934
58,427 1,258,566
923,541
335,026
62,585 1,351,790 1,000,711
351,079
61,384 1,453,053 1,085,561
367,492
63,178 1,579,232 1,187,242
391,990
..........74,961. 1,721,728 ....1,305,929 ....... 41.5,799
81,045 1,827,452 1,382,984
444,468
91,723 2,025,191 1,544,607
480,584
85,469 1,991,082 1,483,563
507,519
1,853,136
....
1,337,81.5
........
51.5,321.
..........78,998.
76,335 1,782,314 1,258,472
523,842
78,522 1,880,114 1,345,369
534,745
80,888 2,153,611 1,576,135
577,476
..........97,264 2,406,869 ....1,798,487 ........608,382
99,594 2,567,985 1,932,896
635,089
106,409 2,523,991 1,865,945
658,046
98,052 2,104,989 1,450,980
654,009
.9 ........631_,687
........140,997 2,162,706 ....1,531_,01
139,735 2,303,466 1,737,678
565,788
151,118 2,449,988 1,880,487
569,501
153,365 2,775,103 2,101,829
673,274
189,362 3,021,487 2,285,922
735,565
201,751 3,249,886 2,479,514
770,372
217,490 3,335,502 2,537,845
797,657
185,769 3,643,742 2,816,874
826,868
180,516 3,898,625 3,035,354
863,271
192,602 4,095,054 3,196,845
898,209
213,616 4,345,701 3,413,847
931,854
237,675 4,571,990 3,591,774
980,216
and 1990, includes trust fund
4

···············································································································
···························•·······················································•
···························

AMERICAN

UST 000802
VERSIGHT

TREAS-17-0313-E-000068

 A

B

C

Table 10.1-GROSS

1

2

-

D

E

F

G

DOMESTIC PRODUCT AND DEFLATORS USED IN THE
(Fiscal Year 2009 = 1.000)

3

4

-

Fiscal Year

5
6 1940

1

GDP (in
GDP
billions of (Chained)
dollars)
Price Index

·rn::fr····
··········
·············
·{94:z"·······
····················
9 ·1°943
··············
··············

s

10·1°944····························
11·rn4s········
·········
·······
····
12·{945·······
··········· ····
····

u

19
20

iii

w

AME

1v1 1
UST 000803

VERSIGHT

Total
Defense

Total Nondefense

Paym
1-----------1

Total

98.2
0.0809
0.0697
0.0651
0.0707
0.0788
116.2
0.0840
0.0769
0.0801
0.0743
0.0815
147.7
0.0902
0.0872
0.0976
0.0678
0.0892
184.6 ·············o.o951· ·············o.o954 ·············o".1·045 ·············o.o671··············o.o988

213.8
226.4
228.0
13 1947
238.9
·rn4a····························
262.4
·1°949
······················
······
276.8
·1°9so
················
········
····
279.0
·rnsr ······
····················
327.4
18·rnsi················
·········
··
357.5
·rns3····························
382.5
·rns4······
······················ 387.7
21·rnss············
···· ·······
····
407.0
~ ·rns5······
·········
············
·
439.0
~ ·rnsr···························
464.2
474.3
24 1958
2s"·rns9················
············
505.6
26·rn50···
··················
······
·
535.1
·rn5r··························547.6
~ ·rn5i·····
········
···········
···
586.9
619.3
29 1963
30·1°954
··············
·············
·
662.9
n ·rn5s····························
710.7
B2·1°955
········
·········
·······
····
781.9
B3·rn5r·············· ·······
····
838.2
34·rn5a·······
·················
····
899.3
is ·1°959·················
·······
····
982.3
36·rn10······················
······
1,049.1
TT·1°9o/"f····
···········
········
····
1,119.3
B8·rn1i ·······
···········
········
·
1,219.5
39·rn13·················
···········
1,356.0
·rn14···············
·············
1,486.2
ii" ·rn1s················
············
1,610.6
42·rn15···············
·············
1,790.3
ut·o ·····················
············
472.6
~ ·rn1r· ·····
···········
········· 2,028.4
~ .1°9ta
························
····
2,278.2
2,570.0
46 1979
47·rnaa·················
·····
······
2,796.8
4s"·rnar···············
···········
3,138.4
49·rnai·············· ···········
3,313.9
~ ·rna3
········
·········
·······
····
3,541.1
si""·rna4····························
3,952.8

14
15
16

Total

0.0995
0.0887
0.0918
0.0726
0.1061
0.1019
0.0834
0.0835
0.0831
0.1115
0.1097
0.0842
0.0801
0.1019
0.1176
0.1216
0.0956
0.0866
0.1019
0.1264
0.1331
0.0994
0.0812
0.1103
0.1380
0.1375
0.0958
0.0810
0.1056
0.1417
0.1355
0.1005
0.0818
0.1127
0.1399
0.1428
0.1009
0.0866
0.1226
0.1478
0.1485
0.1006
0.0901
0.1339
0.1537
0.1512
0.1080
0.0993
0.1349
0.1559
0.1530
0.1112
0.1009
0.1450
0.1580
............................... ......................................................... ............................... ............................
0.1542
0.1151
0.1043
0.1390
0.1579
0.1582
0.1202
0.1105
0.1386
0.1598
0.1641
0.1261
0.1161
0.1441
0.1644
0.1691
0.1335
0.1216
0.1533
0.1692
............................... ....................................................................................................................
0.1717
0.1391
0.1298
0.1513
0.1716
0.1741
0.1411
0.1286
0.1579
0.1747
0.1765
0.1443
0.1309
0.1612
0.1772
0.1783
0.1445
0.1312
0.1603
0.1789
............................... ......................................................... ............................... ............................
0.1805
0.1507
0.1369
0.1661
0.1810
0.1827
0.1531
0.1388
0.1679
0.1835
0.1859
0.1553
0.1386
0.1707
0.1861
0.1899
0.1596
0.1451
0.1727
............................... ......................................................... ............................... ............0.1895
................
0.1957
0.1632
0.1498
0.1763
0.1946
0.2024
0.1691
0.1568
0.1813
0.2006
0.2117
0.1798
0.1657
0.1932
0.2091
0.2231
0.1899
0.1742
0.2030
0.2191
0.2344
0.2030
0.1853
0.2155
0.2289
0.2455
0.2165
0.2031
0.2242
0.2377
0.2562
0.2266
0.2176
0.2309
0.2466
0.2743
0.2454
0.2325
0.2512
0.2664
0.3027
0.2695
0.2533
0.2758
0.2940
0.3237
0.2888
0.2696
0.2955
0.3132
0.3334
0.2961
0.2749
0.3032
0.3230
0.3470
0.3098
0.2906
0.3163
0.3366
0.3703
0.3292
0.3102
0.3353
0.3594
0.4001
0.3576
0.3355
0.3649
0.3892
0.4349
0.3951
0.3709
0.4028
0.4302
0.4775
0.4391
0.4133
0.4476
0.4720
0.5103
0.4721
0.4491
0.4803
0.5011
0.5327
0.4957
0.4720
0.5045
0.5241
0.5515
0.5184
0.4944
0.5278
0.5444

TREAS-17-0313-E-000069

 A

B

52 1985
~3 1986

4,270.4
4,536.1
;-; ·rnar···············
········ ···
4,781.9
~ ·rnaa····························
5,155.1
s"6·rnag·······················
····
5,570.0
·1°§§0········
····················5,914.6
~8 1991
6,110.1
~ ·rngi···························
6,434.7
~ ·rn§:r·····
··············
······
6,794.9
;;-i-·{gg~f"···············
···········
7,197.8
i2 ·rngs···
···················
······
7,583.4
·fag5···························· 7,978.3
f4""
·rn§r·························
8,483.2
b5 1998
8,954.8
~ ·fagg··· ·························
9,510.5
;y 2000····························
10,148.2
68200-r··
··············
·······
···· 10,564.6

57

63

C

D

E

F

G

0.5698
0.5828
o.5958
0.6151
o.6396
0.6627
0.6862
o.7o3o
o.7197
0.7354
o.7510
0.7650
o.7785
0.7881
0.7981
0.8147
0.8342

0.5372
0.5486
o.5643
o.5835
0.6058
o.6237
0.6526
o.6771
o.6972
0.7100
o.7306
0.7459
o.7612
0.7679
0.7777
0.7970
0.8183

0.5128
0.5242
o.5325
o.5455
o.5647
o.5844
0.6159
0.6231
o.6302
0.6366
o.6498
0.6641
o.6740
0.6866
0.7015
0.7235
0.7494

0.5467
0.5585
o.5777
o.5991
0.6222
o.6371
0.6629
o.6936
o.7171
0.7301
o.7511
0.7652
o.7817
0.7860
0.7943
0.8133
0.8333

0.5637
0.5783
o.5930
0.6155
o.6425
0.6682
0.6943
o.7122
o.7306
0.7459
o.7618
0.7771
o.7927
0.7999
0.8092
0.8283
0.8468

692ooi···························
1o,876.9 ...........
..9.:.~1?.?.
.............9.:~~.~.~
.............
9..-.!..!..~.~
..............
9..-.~.1.1.?.
.............
.9.:
.~.?.?.~
2003
11,332.4
n 2oo~r··
···················· ··· 12,088.6
n 2oos····························
12,888.9
70

0.8639
o.8853
o.9131

0.8554
o.8778
o.9081

0.8239
o.8552
o.8963

0.8630
o.8836
o.9111

0.8740
o.8930
o.9180

732005·······
··········
·····
······
752ooa·····
············
·······
····

13,684.7 ............
.9.:.~1?.~
............
.9.:~~~?.
.............
9..-.~~.?.9.
.............
9..-.~.19..?.
.............
.9.:.~1?.!.
o.9684
o.9643
o.9648
o.9642
o.9659
14,752.4
o.9885
o.9980
1.0019
o.9970
o.9999
762009····························
14,414.6
1.0000
1.0000
1.0000
1.0000
1.0000

i742oor···························
14,322.9

n782Mo···
·························
20-rr················
·······
····

14,798.5 ...........
...~.:9.9.~~
.............~.:9..~.?.!..
..............
~...
.9.~
.~.~
..............
.~..-9..~
..?..~
................
~.:9..~.?.?.
15,379.2
1.0293
1.0395
1.0496
1.0371
1.0377
i792Mi·············
·············· 16,027.2
1.0481
1.0603
1.0647
1.0592
1.0597
$02M:r··························
16,498.1
1.0661
1.0742
1.0714
1.0748
1.0757
17' 183.5 ..............
~.:.g~1~
.............
~.:9.~9.?
...............
~..-.9.~.~g_
..............
~..-9..~9.1
...............
~.:.g.~·~·~
1.0990
1.1056
1.1042
1.1058
1.1055
1.1164
1.1268
1.1218
1.1277
1.1265
1.1364
1.1499
1.1420
1.1513
1.1501
1.1584
1.1745
1.1641
1.1762
1.1754
86 2019estimate
21,012.6
1.1816
1.2005
1.1875
1.2025
1.2024
87202o·esHmaie···
···· 21,921.4
1.2053
1.2275
1.2112
1.2299
1.2301
-········································
88 2021 estimate
22,875.2
1.2294
1.2551
1.2355
1.2578
1.2584
89 Note: Constant dollar research and development outlays are based on the GDP (chained) price i
81 2014

82 2Ms········
····················
17,803.4
832Mi3·e·s1frriaie···
···· 18,472.0
8Li""2offesHmaie·······
19,302.8
~ 2Ma··esHmaie
······· 20,129.6

AMERICAN
UST 000804
VERSIGHT

TREAS-17-0313-E-000070

 H
I
J
1 HISTORICAL TABLES: 1940-2021

~

1

M

!
!

N

!
!

!
Composite Outlay Deflators

3

5
6

L

!
!

•••••••• • •• • ••••••••••••••••• ~ ••• • • • • • •••••••••• • ••••••••• • u•• • •••••••••••• • ••••••• • •• • ••••• • • • • • •• • ••• •• •• • • • ••• • ••••••>- •• • •••••••• • •• •• ••• • ••• • ••••• ❖ • • ••• • ••• •• •• • •••••••••••• •• • ~•• • • ••••••••••••• •• ••••• • •• • ••

2

4

K

ent for Individuals
Direct

Grants

Other
Grants

Undistributed
Net Interest
Offsetting

Adden
All Other
Total

0.0788
0.0788
0.0493
0.0809
0.0477
0.0674
0.1448
·············o.o815 ·············o.o81·5·············o".o446 ·············o.o840··············o.o474 ·············o.o688 ·············o.1·548

8
0.0892
0.0892
0.0437
0.0902
0.0509
0.0595
0.1614
g
0.0988
0.0988
0.0469
0.0961
0.0557
0.0584
0.1582
10·············o.·1oM ·············o.1·06f ·······
······
o".0498 ·············
0.0995· ·······
······o.o61·4·············o.o624·············
o.1·535
11
0.1116
0.1113
0.0503
0.1019
0.0647
0.0663
0.1433
12
0.1176
0.1174
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0.1128
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AME 1vAN

UST 000805
VERSIGHT

TREAS-17-0313-E-000071

 J

H

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89 1dex.

AMERICAN

UST 000806
VERSIGHT

TREAS-17-0313-E-000072

 p

0

1

2

······
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um: Direct Capital
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AME 1vAN

UST 000807
VERSIGHT

TREAS-17-0313-E-000073

 p

0

0.7773
0.7686
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............................. .............................

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AMERICAN

UST 000808
VERSIGHT

TREAS-17-0313-E-000074

 RE: Feedback effects of tax bills
From:

"Cole, Becky (Budget)" <becky_cole@budget.senate.gov>

To:

"Kowalski, Daniel" <daniel.kowalski@treasury.gov>

Cc:

"Giroux, Matthew (Budget)" <matthew_giroux@budget.senate.gov>

Date:

Mon, 18 Sep 2017 13:45:38 -0400

Thanks Dan - Steve forwarded me the bulletins from IRET.
From: Daniel .Kawa lski@treasury.gov [ma i lto :Dan iel.Kowa lski@treasury.gov]
Sent : Monday, September 18, 2017 1:12 PM
To : Cole, Becky (Budget) <Becky_Cole@budget.senate.gov>
Cc: Giroux, Matthew (Budget) <Matthew_Giroux@budget.senate.gov>
Subject: Feedback effects of tax bills

I did some extracurricular work earlier this year on the feedback effects of past tax bills based on
research from IRETthat Steve Robinson pointed me to. You may find it helpful in budget prep.
IRET finds that the Bush tax cuts paid for themselves, and the Reagan cuts came close. A one-page
summary of that research is attached. I believe I have hard copies of the papers back at home if you
need them
In addition, one can point out that both revenues and GDP have increased after major tax cuts. I've
attached and copied below a table that shows the correlation. It is worth noting that the annual
growth in tax receipts is greater than nominal GDP growth 5 years after the tax cut.
Tax Revenues and GDP Have Increased After Major Tax Cuts

(By fiscal year in billions of dollars)

Kennedy {1962-1964)

Total Revenues

GDP

Revenues as %
of GDP

1964

112.6

662.9

17.0%

1965

116.8

710.7

16.4%

1966

130.8

781.9

16.7%

1967

148.8

838.2

17.8%

1968

153.0

899.3

17.0%

1969

186.9

982.3

19.0%

10.7%

8.2%

5-year avg. growth

Reagan {1981, 1982 and 1984)

Total Revenues
1984
1985

666.4
734.0

GDP
3952.8
4270.4

Revenues as%
of GDP
16.9%
17.2%

AMERICAN
UST 000809
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TREAS-17-0313-E-000075

 1986
1987
1988
1989

769.2
854.3
909.2
991.1

4536.1
4781.9
5155.1
5570.0

5-year avg. growth

8.3%

7.1%

17.0%
17.9%
17.6%
17.8%

Bush {2001 and 2003)

2003
2004
2005
2006
2007
2008*

Total Revenues
1,782.3
1,880.1
2,153.6
2,406.9
2,568.0
2,524.0

GDP
11,332.4
12,088.6
12,888.9
13,684.7
14,322.9
14,752.4

5-year avg. growth

7.2%

5.4%

Revenues as%
of GDP
15.7%
15.6%
16.7%
17.6%
17.9%
17.1%

*--2007-2009 recession began in first quarter of fiscal year 2008.

AMERICAN

UST 000810
PVERSIGHT

TREAS-17-0313-E-000076

 A few more edits to the document
From :
To:

"Knight, Shahira E. EOP/WHO"

>

Cc:

"Brendan M. Dunn (Brendan_Dunn@mcconnell.senate.gov)"
<brendan_dunn@mcconnell.senate.gov> , "Callas, George"
<george.callas@mail.house.gov>
"Muzinich, Justin" <justin.muzinich@treasury.gov>

Date:
Attachments:

Thu, 21 Sep 2017 13:34:08 -0400
Big 6 Call 9.21.2017 Clean.docx (17.98 kB); Big 6 Call 9.21.2017.docx (19.06 kB)

Redline and clean versions attached.

TREAS-17-0313-E-000077

 Revised docs
From :
To:

"Knight, Shahira E. EOP/WHO"

Date :
Attachments:

Thu , 21 Sep 2017 18:50:24 -0400

>

"Callas, George" <george.callas@mail.house.gov>, "Brendan M. Dunn
(Brendan_Dunn@mcconnell.senate.gov)" <brendan _dunn@mcconnell.senate.gov>,
"Muzin ich, Justin" <just in.muzinich@treasury.gov>
Big 6 Call 9.21.2017 Readout.docx (18.54 kB); Big 4 Staff Summary- GC.docx (30.76 kB)

Attached:
1) The revised chart reflecting the changes from the call. Please note there may be wording issues that we
need to resolve.
2) The 5-page summary with George's reactions/responses to what we sent you on Tuesday .

AMERICAN

UST 000812
pVERSIGHT

TREAS-17-0313-F-000001

 RE: Revised Summar
From :
To:

"Knight, Shahira E. EOP/WHO"

Date :

Fri, 22 Sep 2017 19:49:58 -0400

Attachments:

Unified Framework Summary .docx (28.38 kB)

>

"Brendan M. Dunn (Brendan_Dunn@mcconnell.senate.gov)"
<brendan_dunn@mcconnell.senate.gov>, "Muzinich , Justin"
<justin.muzinich@treasury.gov>, "Callas , George" <george.callas@mail.house.gov>

Here is a clean version.
-----Original Message- ---From: Knight, Shahira E. EOP/WHO
Sent: Friday, September 22, 2017 7:48 PM
To: Brendan M. Dunn (Brendan _Dunn@mcconnell.senate .gov) <Brendan _Dunn@mcconnell .senate.gov>;
Justin .Muzin ich@treasury .gov; 'Callas, George' <George.Callas@mail .house.gov>
Subject: FW: Revised Summary
Ge_or~e,

at 10:52 th is morning . It reflects changes from our call. b(5)
I have not received any comments on it from anyone .

-----Original Message--- -From: Knight, Shahira E. EOP/WHO
Sent: Friday, September 22, 2017 10:52 AM
To: Justin .Muzinich@treasury .gov; George.Callas@ma il.house.gov; Brendan M. Dunn
(Brendan_Dunn@mcconnell.senate.gov) <Brendan_Dunn@mcconnell.senate .gov>
Subject: Revised Summary
Guys I took a stab at revis ing. Three issues to flag :

Let me know what you think .
of talking about it if people have hearburn over this .
Thanks.

AMERICAN

UST 000813
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TREAS-17-0313-F-000002

 Re: Document//materials
From :

"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>

To:

"Ferrier, Antonia (McConnell)" <antonia_ferrier@mcconnell.senate.gov>, "Prater, Mark
(Finance)" <mark_prater@finance.senate.gov>, "Khosla, Jay (Finance)"
<jay_khosla@finance.senate.gov>, "Callas, George" <george.callas@mail.house.gov>,"
W&M Stewart, David" <david.stewart@mail.house.gov>, "Knight, Shahira E. EOP/WHO"
>, "Muzinich, Justin" <justin.muzinich@treasury.gov>

Cc:

"Buck, Brendan" <brendan.buck@mail.house.gov>, "Schillinger, Emily"
<emily.schillinger@mail.house.gov>, "Lawless, Julia (Finance)"
<'ulia_lawless finance.senate. ov>, "Sayegh, Tony E. EOP/WHO"
, "Stewart, Don (McConnell)"
mcconne .senate.gov>

Date:

Sun, 24 Sep 2017 13:08:10 -0400

Attachments:

Unified Framework Summary .docx (30.94 kB)

The attached document is, I believe, the latest version with agreed -upon changes. There are probably
some items that have been lost in the shuffle, and I know that Prater and his team were working
through some additional issues, but those are add-ons that the po licy folks will run through
together.
For the purpose of the comms effort, do your wordsmithing on the attached doc unless someone
here says otherwise .
From: Antonia Ferrier <Antonia_Ferrier@mcconnell.senate.gov>
Date: Sunday, September 24, 2017 at 12:47 PM
To: Mark Prater <Mark_Prater@finance.senate.gov>, Jay Khosla <Jay_Khosla@finance.senate.gov>,

Brendan Dunn <Brendan_Dunn@mcconnell.senate.gov>, George Callas
<George.Callas@mail.house.gov>, David Stewart <David.Stewart@mail.house.gov>, Shahira Knight
<Shahira.E.Knight@who.eop .gov>
Cc: "Buck, Brendan" <Brendan.Buck@mail.house.gov>, "Schillinger, Emily"
<Emily.Schillinger@mail.house.gov>, Julia Lawless <Julia_Lawless@finance.senate.gov>, "Sayegh, Tony
E. EOP/WHO"
, Don Stewart <Don_Stewart@mcconnell.senate.gov>
Subject: Document materia ls
(Someone please add Justin be I don't seem to have his emai l.) Happy Sunday. Buck and l's goal for
today is to get the framework document turned into a com ms document and a one page overview.
We started by using a version from Friday and then received an updated version last night. Is what
we received last night the pencil down version from which we can work to turn it into a releasable
communications friendly document and a one page overview? If there are further edits that will slow
down th is process. If you pol icy folks could let us know, that would be helpful. Thanks much.

AMERICAN

UST 000814
pVERSIGHT

TREAS-17-0313-F-000003

 Re: Time for a call?
From :
To:

Cc:
Date:

"Angus , Barbara" <barbara .angus@mail.house .gov>
"Knight, Shah ira E. EOP/WHO"

>

"Muzinich , Justin" <justin .muzinich@treasury.gov>
Mon, 25 Sep 2017 07:22:01 -0400

•
Barbara M . Angus
Chief T ax Counsel
Committee on Ways and Means
202 .225 .5522

From: Shahira Knight
Date: Monday, September 25, 2017 at 6:17 AM
To: "Angus, Barbara" <Barbara.Angus@mail.house.gov >

Cc: "Justin.Muzinich@treasury.gov " <Justin.Muzinich@treasury.gov >
Subject: Re: Time for a call?
b(5)

On Sep 24, 2017 , at 11:29 PM, Angus, Barbara <Barbara.Angus@mail.house.gov > wrote:

Just checking in. b(5)
Barbara M . Angus
Chief T ax Counsel
Comm ittee on Ways and Means
202.225 .5522

From: Shahira Knight
>
Date: Sunday, September 24, 2017 at 7:32 PM
To: "Angus , Barbara" <Barbara.Angus@mail.house.gov >

Cc:"Justin.Muzinich@treasury.gov " <Justin.Muzinich@treasury.gov >
Subject: RE:Time for a call?
Barbara,

b(5)

Thanks!
From : Angu s, Barb ara [mailto :Barbara.Angus@maH.house.gov )

Sent: Sunday, Sept ember 24, 20 17 6:45 PM
To: Knight, Shahira E. EOP/WHO
Cc: Justin .Muzinich@treasury.gov
Subject: Re: Time for a call?

AMERICAN

UST 000815
pVERSIGHT

TREAS-17-0313-F-000004

 In our member meeting tonight. Can talk later. After 10:30

-------- Original Message -------Subject: Time for a call?
From "Knight, Shahira E. EOP/WHO "
Dat e: Sep 24, 2017, 6:32 PM
To : "Angus, Barbara" <Barbara.Angus@mail.house.gov >

--

Hi Barbara,
Just tried calling you on your cell and got voicemail. If you have a chance to call, I'd really appreciate it

mlllllll

~
and I are briefing the big boss tomorrow and there is an issue we know is going to come up . We' d appreciate 5
minutes to talk to you about it while you're at the retreat so we have an answer for him tomo rrow . If you give me a
ring, I'll conference Justin in.
Thanks!

AMERICAN

UST 000816
pVERSIGHT

TREAS-17-0313-F-000005

 Im ortant - Revised Framework
From :

"Knight , Shahira E. EOP/WHO"

To:

"Callas, George" <george.callas@mail.house .gov>, "Brendan M. Dunn
(Brendan_Dunn@mcconnell.senate.gov)" <brendan _dunn@mcconnell.senate.gov>

Cc:

"Muzin ich, Justin" <just in.muzinich@treasury .gov>

Date :

Mon, 25 Sep 2017 08:21:28-0400

Attachments:

FRAMEWORK -- AF (005) - SK Edits.docx (30.43 kB)

>

B&G,
We received an edited version of the framework summary from the comms team last night. They
want all of the policy people to provide their input into one document to help manage the process.
The attached includes edits from me and Justin. Can you please add your edits ans send it back to
us?
• • •

•

•

•

•

• •

•

• • •

• • •

•

• • hf t; \

b(5)

Please provide any additional edits and send back. Thanks.

AMERICAN

UST 000817
pVERSIGHT

TREAS-17-0313-F-000006

 RE: Tax Rollout S eech
From:
To:

"Dunn, Brendan (McConnell)" <brendan _dunn@mcconnell.senate.gov>

Cc:

"Muzinich, Justin" <justin .muzinich@treasury.gov>

Date:

Mon, 25 Sep 2017 18:18:56 -0400

"Callas Geor e" < eor e.callas@mail.house.gov>, "Knight, Shahira E. EOP/WHO"
>, "Prater, Mark (Finance)" <mark_prater@finance.senate.gov>,
ngus, ar ara < ar ara.angus@mail.house.gov>

Thanks Shahira .
Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader
-----Original Message----From: Callas , George [mailto:George.Callas@mail.house.gov)
Sent: Monday , September 25, 2017 6:02 PM
To: 'Knight, Shahira E. EOP/WHO'
<Brendan _Dunn@mcconnell.senate.gov>; ra er,
Angus , Barbara <Barbara .Angus@mail.house .gov>
Cc: Justin.Muzinich@treasury .gov
Subject: RE: Tax Rollout Speech

>; Dunn, Brendan (McConnell)
< ark_Prater@finance .senate .gov> ;

Thanks for the heads up.
-----Or iginal Message----From: Knight, Shahira E. EOP/WHO [mailto
Sent: Monday , September 25, 2017 5:54 P
To: Brendan M. Dunn (Brendan_Dunn@mcconnell.senate.gov); mark_prater@Finance.senate .gov; Callas,
George; Angus , Barbara
Cc: Justin .Muzinich@treasury .gov
Subject: Tax Rollout Speech

AMERICAN

UST 000818
pVERSIGHT

TREAS-17-0313-F-000007

 FINAL DOCUMENT
From :

"Ferrier, Antonia (McConne ll)" <anton ia_ferrier@mcconnel l.senate.gov>

To:

"Muzinich Justin" <'ustin.muzinich@treasury.gov>, "Knight, Shahira E. EOP/WHO"
>, "Prater, Mark (Finance)"
<mar _pra er inance .sena e.gov>, "Khosla, Jay (Finance)"
<jay _khosla@finance .senate.gov>, "Callas, George" <george.callas@mail.house.gov>, "
(W&M) Stewart, David" <david.stewart@mail.house.gov>, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell.senate.gov>

Cc:

Date :
Attachments:
Attached.

I believe I have captured ALL the last minute edits and changes. Please go through

and tell

me if you find any issues. Need back by 10AM so we can get this thing produced. Thanks .

AMERICAN

UST 000819
pVERSIGHT

TREAS-17-0313-F-000008

 RE: FINAL DOCUMENT
From :

"Knight, Shahira E. EOP/WHO"

To:

"Ferrier, Antonia (McConne ll)" <antonia_ferrier@mcconnel l.senate.gov>, "Muzinich,
Justin" <justin.muzinich@treasury.gov>, "Prater , Mark (Finance)"
<mark_prater@finance .senate.gov>, "Khosla, Jay (Finance)"
<jay_kho sla@finance .senate.gov>, "Callas, George" <george.callas@mail.house.gov>,"
(W&M) Stewart, David" <david .stewart@mail.house.gov>, "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell .senate .gov>

Cc:

"Buck, Brendan" <brendan .buck@mail.house .gov>, "Schill inger, Emily"
<emil .schillin er mail.house .gov>, "Sayegh, Tony E. EOP/WHO"
>, "Lawless, Julia (Finance)"
<JuIa_ aw ess mance.sena e.gov>, "Stewart , Don (McConnell)"
<don_stewart@mcconnell.senate .gov>

Date :

Tue, 26 Sep 2017 09:11 :17 -0400

Attachments:

FRAMEWORK --9 .26.17.docx (29.79 kB)

Thanks Antonia.

Two comments:

1)
2)

Thanks again
From: Ferrier, Antoni a ( McCon nel I) [ma ilto :Anton ia_Ferri er@mccon n ell.senate .gov]
Sent: Tu esday, September 26, 2017 8:53 AM
To: Justin Muzinich <Justin.Muzinich@t reasury.gov>; Knight, Shahira E. EOP/WHO

>; Prater, Mark (Finance) <Mark _ Prater@finance.senate.gov>; Khosla,
Jay Finance) <Jay_Khosla@finance.senate.gov>; Callas, George <George.Callas@mail.house.gov>;
(W&M) Stewart, David <David.Stewart@mail.house .gov>; Dunn, Brendan (McConnell)
<Brendan _Du nn@mcconne ll.senate.gov>
Cc: Buck, Brendan <Brendan.Buck@mail .house.gov>; Schillinger, Emily
>·I
<Emily.Schillinger@ma il.house.gov>; Sayegh, Tony E. EOP/WHO
Lawless, Julia (Finance) <Julia_Lawless@finance.senate.gov>; Stewart, Don
<Don_Stewa rt@mcco n nel I.senate .gov>
Subject: FINAL DOCUMENT
Attached. I believe I have captured ALL the last minute edits and changes. Please go through and tell
me if you find any issues. Need back by 10AM so we can get this thing produced. Thanks .

AMERICAN

UST 000820
pVERSIGHT

TREAS-17-0313-F-000009

 Re: FINAL DOCUMENT
From :

"Knight, Shahira E. EOP/WHO"

>

To:

"Angus, Barbara" <barbara.angus@mail.house.gov>

Cc:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov> , "Callas, George"
<george.callas@mail.house.gov> , "Schillinger, Emily" <emily.schillinger@mail.house.gov>, "Buck,
Brendan" <brendan.buck@mail.house.gov>, "Ferrier , Antonia (McConnell)"
<antonia_ferrier@mcconnell .senate .gov>, "Muzinich, Just in" <justin .muzinich@treasury.gov>,
"Khosla, Jay (Finance)" <jay_khosla@finance .senate.gov>, "Stewart, David"
<david.stewart@mail.house.gov>, "Dunn, Brendan (McConnell)"
<brendan dunn mcconnell.senate.gov>, "Sayegh, Tony E. EOP/WHO"
>, "Lawless , Julia (Finance)" <julia_lawless@finance.senate.gov> ,
tewart, on
<don_stewart@mcconnell.senate.gov>

Date:

Tue, 26 Sep 2017 10:07:58 -0400

Thanks for explanation.
On Sep 26, 2017, at 10:00 AM, Angus, Barbara <Barbara .Angus@mail.house.gov > wrote:
b(5)

Barbara M. Angus
Chief T ax Counse l
Committee on Ways and Means
202.225 .5522

From: Mark Prater <Mark Prater@finance.senate.gov >
Date: Tuesday, September 26, 2017 at 9:50 AM
To: George Callas <George.Callas@mail.house .gov>, Emily Schillinger

<Emily.Schillinger@mail.house.gov >
Cc:Shahira Knight
"Buck, Brendan"
<Brendan.Buck@mail.house.gov >, "Ferrier, Antonia (McConnell)"
<Antonia Ferrier@mcconnell.senate.gov >, Justin Muzinich
<Justin.Muz inich@treasury.gov >, "Khosla, Jay (Finance)"
<Jay Khosla@finance.senate .gov>, "Stewart, David " <David.Stewart@mail.house.gov >,
"Dun n, Brendan (McConnell)" <Brendan_Dunn@mcconnell.senate.gov >, "Sayegh, Tony E.
EOP/WHO"
>, "Lawless, Julia (Finance) "
<Julia Lawless@finance .senate.gov >, "Stewart, Don (McConnell)"
<Don Stewart@mcconnell.senate.gov >, "Angus, Barbara"
<Barbara .Angus@mail.house.gov >
Subject: RE: FINAL DOCUMENT

Agree .

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: "Callas, George" <George.Callas@ma il.house .gov>
Date: 9/26/17 9:47 AM (GMT-05:00)
To: "Schillinger, Emily" <Emily.Schillinger@ma il.house .gov>

AMERICAN

UST 000821
pVERSIGHT

TREAS-17-0313-F-000010

 Cc: "Knight , Shahira E. EOP/WHO"
>, "Buck, Brendan"
<Brendan.Buck@mail.house.gov >, ' emer, ntonia
c onne
<Antonia Ferrier@mcconnell.senate.gov >, Justin Muzinich <Justin.Muzinich@treasury.gov >,
"Prater, Mark (Finance)" <Mark Prater@finance.senate.gov >, "Khosla, Jay (Finance)"
<Jay Khosla@finance.senate.gov >, "Stewart, David" <David.Stewart@mail.house .gov>, "Dunn,
Brendan McConnell" <Brendan Dunn mcconnell.senate . ov>, "Sayegh, Tony E. EOP/WHO"
>, "Lawless, Julia (Finance)"
<Ju 1a aw less inance.senate. ov>, "Stewart, Don (McConnell)"
<Don Stewart@mcconneU.senate.gov >, "Angus, Barbara" <Barbara .Angus@maiLhouse.gov >
Subject: Re: FINAL DOCUMENT
b(5)

On Sep 26, 2017, at 9:39 AM, Schillinger, Emily <Emily.Schillinger@mail.house.gov > wrote:

Adding Barbara too
Sent from my iPhone
Knight, Shahira E. EOP/WHO
> wrote:

On Sep 26, 2017, at 9:34 AM , Callas, George <George.Callas@mail.house.gov >
wrote:
b(5)

On Sep 26, 2017, at 9:21 AM, Buck, Brendan <Brendan.Buck@mail.house.gov >
wrote:

Good here
On Sep 26, 2017, at 9:19 AM, Ferrier, Antonia (McConnell)
<Antonia Ferrier@mcconnell.senate.gov > wrote:

AMERICAN

UST 000822
pVERSIGHT

TREAS-17-0313-F-000011

 From: Knight, Shahira E. EOP/WHO [mailto

Sent : Tuesday, September 26, 2017 9:11 AM
To: Ferrier, Antonia (McConnel l) <Antonia Ferrier@mcconnell.senate.gov >; Justin Muzin ich
<Justin .Muzinich@treasury.gov >; Prater, Mark (Finance) <Mark Prater@finance .senate .gov>; Khosla,
Jay (Finance) <Jay Khosla@finance.senate.gov >; Callas, George <George.Callas@mail.house.gov >;
(W&M) Stewart, David <David.Stewart@mail.house .gov>; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >
Cc: Buck, Brendan <Brendan.Buck@mail.house.gov >; Schillinger, Emily
<Emily.Schillinger@mail.house.gov >; Sayegh, Tony E. EOP/WHO
Lawless, Julia (Finance) <Julia Lawless@finance.senate.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate.gov >
Subject: RE: FINAL DOCUMENT

Thanks Antonia.

Two comments:

1)
2)

Thanks again
From : Ferrier, Antonia (McConnell) (mailto:Antonia

Ferrier@mcconnell.senate .gov]

Sent : Tuesday, September 26, 2017 8:53 AM
To: Justin Muzinich <Justin.Muzinich@treasury.gov >; Knight, Shahira E. EOP/WHO
; Prater, Mark (Finance) <Mark Prater@finance.senate.gov >; Khosla,
Jay (Finance) <Jay Khosla@finance .senate.gov >; Callas, George <George .Callas@mail.house .gov>;
(W&M) Stewart, David <David.Stewart@mail.house .gov>; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >
Cc: Buck, Brendan <Brendan.Buck@mail.house .gov>; Schillinger, Emily
<Emily.Schillinger@mail.house.gov >; Sayegh, Tony E. EOP/WHO
Lawless, Julia (Finance) <Julia Lawless@finance.sena t e.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate.gov >
Subject: FINAL DOCUMENT
Attached.

I believe I have captured

ALL the last minute

edits and changes.

Please go through

me if you find any issues. Need back by 10AM so we can get this thing produced.

and tell

Thanks .

AMERICAN

UST 000823
pVERSIGHT

TREAS-17-0313-F-000012

 RE: FINAL DOCUMENT
From:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

To:

"Muzinich, Justin" <justin .muzinich@treasury.gov>,
Antonia (McConne ll)" <antonia_ferrier@mcconnell.senate.gov>

Cc:

"Lawless, Julia (Finance)" <julia_lawless@finance.senate.gov>, george.callas@mail.house.gov,
brendan.buck@mail.house.gov , "Dunn, Brendan (McConnell)"
<brendan_dunn@mcconnell .senate.gov>, "Khosla, Jay (Finance)"
<jay_khosla@finance.senate.gov>, david.stewart@mail.house.gov, "Stewart, Don (McConnell)"
<don stew art mcconnell.senate.gov>, emily.schillinger@mail.house.gov,

Date:

Tue, 26 Sep 2017 10:16:16 -0400

, "Ferrier,

From: Justin. Muzin ich@treasury.gov [mailto :Justin. Muzin ich@treasury.gov]
Sent: Tuesday, September 26, 2017 10:11 AM
To:
; Ferrier , Antonia (McConnell)
<Antoni a_ Ferri er@mccon n el I.senate.gov>
Cc: Lawless, Julia (Finance) <Julia_Lawless@finance.senate.gov>; George.Callas@mail.house.gov;
Brendan.Buck@mail.house.gov; Dunn, Brendan (McConnell) <Brendan_Dunn@mcconnell.senate.gov>;
Khosla, Jay (Finance) <Jay_Khosla@finance.senate.gov>; David.Stewart@mail.house.gov; Prater, Mark
(Finance) <Mark_Prater@finance.senate.gov>; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate.gov>; Emily.Schill inger@mail.house.gov;
Subject: Re: FINAL DOCUMENT

Fine too

From: Knight, Shahira E. EOP/WHO
Date: September 26, 2017 at 10:10:00 AM EDT

>

To: Ferrier, Antonia (McConnell) <Antonia Ferrier@mcconnell.senate.gov >
Cc: Callas, George <George.Callas@mail.house .gov>, Schillinger, Emily
<Emily.Schillinger@mail.house.gov >, Prater, Mark (Fi nance) <Mark Prater@finance.senate.gov >,
Sayegh, Tony E. EOP/WHO
>, Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >, Stewart, Don (McConnell) <Don Stewart@mcconnel l.senate.gov >,
Muzinich, Justin <Justin .Muzinich@treasury.gov >, Stewart, David <David.Stewart@mai l.house.gov >,
Lawles s, Julia (Finance) <Julia Lawless@finance.senate.gov >, Buck, Brendan
<Brendan.Buck@mail.house.gov >, Dunn, Brendan (McConnell)
<Brendan Dunn@mcconne ll.senate.gov >
Subject: Re: FINAL DOCUMENT

Fine
On Sep 26, 2017, at 10:05 AM, Ferrier, Antonia (McConnell) <Antonia
wrote:

Ferrier@mcconnell.senate .gov>

AMERICAN

UST 000824
pVERSIGHT

TREAS-17-0313-F-000013

 b(5)

From: Callas, George [mailto:George.Callas@mail.house.gov ]
Sent: Tuesday, September 26, 2017 9:58 AM
To : Justin.Muzinich@treasury.gov
Cc: Prater, Mark (Finance} <Mark Prater@finance.senate.gov >;
Ferrier, Antonia (McConnell} <Antonia Ferrier@mcconnell.senate.gov >; Buck, Brendan
<Brendan.Buck@mail.house.gov >; Khosla, Jay (Finance} <Jay Khosla@finance.senate.gov >;
Stewart, David <David .Stewart@mai l.house .gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Schillinger, Emily <Emily.Schillinger@mail.house.gov >;
; Lawless, Julia (Finance) <Julia Lawless@finance .senate.gov >;
Stewart, Don (McConnell) <Don Stewart@mcconne ll.senate.gov >
Subject : Re: FINAL DOCUMENT

b(5)

On Sep 26, 2017, at 9:46 AM, "Justin.Muzinich@treasury
wrote:

.gov" <Justin.Muzinich@treasury.gov >

b(5)
Two more thoughts:

11B111
b(5)

From: Prater, Mark (Finance) [mai lto:Mark Prater@finance .senate.gov ]
Sent: Tuesday, September 26, 2017 9:39 AM
To : Knight, Shahira E. EOP/WHO
>; Ferrier, Antonia
(McConnell) <Antonia Ferrier@mcconne ll.senate.gov >
Cc: Buck, Brendan <Brendan.Buck@mail.house .gov>; Muzinich, Justin
<Justin .Muzinich@treasury.gov >; Khosla, Jay (Finance) <Jay Khosla@finance.senate.gov >;
Callas, George <George .Callas@mail.house .gov>; Stewart, David
<Dayid.St ewart@mail ,house ,goy>; Dunn, Brendan (McConnel l)
<Brendan Dunn@mcconnell.senate .gov>; Schillinger, Emily

AMERICAN

UST 000825
pVERSIGHT

TREAS-17-0313-F-000014

 Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message -------From: "Knight, Shahira E. EOP/WHO"
>
Date: 9/26/17 9:29 AM (GMT-05:00)
To: "Ferrier, Antonia (McConnell) " <Antonia Ferrier@mcconnell.senate.gov >
Cc: "Buck, Brendan " <Brendan.Buck@mail.house.gov >, Justin Muzinich
<Justin.Muzinich@treasury.gov >, "Prater, Mark (Finance)"
<Mark Prater@finance.senate.gov >, "Khosla, Jay (Finance) "
<Jay Khosla@finance.senate .gov>, "Callas, George" <George .Callas@mail.house .gov>,
"Stewart, David" <David.Stewart@mail.house.gov >, "Dunn, Brendan (McConnell)"
<Brendan Dunn@mcconnell.senate .gov>, "Schillinger, Emily"
~
.gov>, "Sayegh, Tony E. EOP/WHO"
~
>, "Lawless, Julia (Finance)"
<Julia Lawless@finance.senate .gov>, "Stewart, Don (McConnell)"
<Don Stewart@mcconne ll.senate.gov >
Subject: Re: FINAL DOCUMENT
b(5)

On Sep 26, 2017, at 9:25 AM, Ferrier, Antonia (McConnell)
<Antonia Ferrier@mcconnell.senate.gov > wrote:

UST 000826

TREAS-17-0313-F-000015

 From : Buck, Brendan [mailto :Brendan.Buck@mail.house.gov ]
Sent : Tuesday, September 26, 2017 9:22 AM
To : Ferrier, Antonia (McConnell) <Antonia Ferrier@mcconnell.senate.gov >

Cc: Knight , Shahira E. EOP/WHO
>; Justin Muzinich
<Justin.Muzinich@treasury.gov >; Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >; Callas, George <George.Callas@mail.house.gov >;
Stewart, David <David.Stewart@mail.house.gov >; Dunn, Brendan (McConne ll)
<Brendan Dunn@mcconnell.senate.gov >; Schillinger, Emily
<Emily.Schillinger@mail.house.gov >; Sayegh, Tony E. EOP/WHO
; Lawless, Julia (Finance)
<Julia Lawless@finance.senate.gov >; Stewart, Don (McConne ll)
<Don Stewart@mcconnell.senate.gov >
Subject : Re: FINAL DOCUM ENT
Good here
On Sep 26, 2017, at 9:19 AM, Ferrier, Anton ia (M cConnel l)
<Antonia Ferrier@mcconnell.senate.gov > w rote:
b(5)

From: Knight, Shahira E. EOP/WHO [mailto
Sent : Tuesday, September 26, 2017 9:11 AM

To : Ferrier, Antonia (M cConne ll) <Antonia Ferrier@mcconnell.senate.gov >; Justin
Muzinich <Justin.Muzinich@treasury.gov >; Prater, Mark (Finance)
<Mark Prater@finance.senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >; Callas, George <George.Callas@mail.house .gov>;
(W&M) Stewart, David <David.Stewart@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >
Cc: Buck, Brendan <Brendan .Buck@maiLhouse .gov >; Schillinger, Emily
~

v>; Sayegh, Tony E. EDP/WHO

; Lawless, Julia (Finance)

<

ov>;Stewart,

Don (McConnell)

<Don Stewart@mcconoell .senate .gov>
Subject : RE: FINAL DOCUMENT
Thanks Antonia . Two comments:

1)

b(5)

AMERICAN

UST 000827
pVERSIGHT

TREAS-17-0313-F-000016

 2)

Thanks again
From : Ferrier, Antonia (McConnell) [mailto :Antonia
Sent : Tuesday, September 26, 2017 8:53 AM

Ferrier@mcconnell.senate.gov

]

To : Justin Muzinich <Justin.Muzinich@treasury .gov>; Knight, Shahira E. EOP/WHO
>; Prater, Mark (Finance)
<Mark Prater@fjnance .senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.sena t e.gov>; Callas, George <George .Callas@mail.house .gov>;
(W&M) Stewart, David <David.Stewart@mail.house.gov >; Dunn, Brendan
(McConnell) <Brendan Dunn@mcconnell.senate.gov >
Cc: Buck, Brendan <Brendan.Buck@mail.house.gov >; Schillinger, Emily
<Emily.Schillinger@mail.house.gov >; Sayegh, Tony E. EOP/WHO
>; Lawless, Julia (Finance)
<Julia Lawless@finance.senate.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate .gov>
Subject : FINAL DOCUMENT

Attached. I believe I have captured ALL the last minute edits and changes . Please
go through and tell me if you find any issues. Need back by 10AM so we can get th is
thing produced. Thanks .

AMERICAN

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TREAS-17-0313-F-000017

 FINAL DOC/JONE LAST SIGN OFF
From :

"Ferrier, Antonia (McConne ll)" <antonia _ferrier@mcconnel l.senate.gov>

To:

"Muzinich, Justin" <'ustin.muzinich@treasury.gov>, "Knight, Shahira E. EOP/WHO"
>, "Prater, Mark (Finance)"
<mar _p ra er inance .sena e.gov>, "Callas , George" <george.callas@ mail.house.gov>,
"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate.gov>,
barbara.angus@mail. house .gov, "Stewart, David" <david .stewart@mail. house .gov>,
"Khos la, Jay (Finance)" <jay_khosla@finance .senate .gov>

Cc:

"Schillinger, Emily" <em ily.schillinger@mail.house.gov>, "Stewart, Don (McConnell)"
<don_stewart@mcconnell.senate.gov>, "Buck, Brendan"
<brendan.buck@mail.house.gov>, "Lawless, Julia (Finance)"
<"ulia lawless finance.senate.gov>, "Sayegh, Tony E. EOP/WHO"
>

Date :

Tue, 26 Sep 2017 10:19 :52 -0400

Attachments:

FRAMEWORK --9 .26.17.docx (27.89 kB)

Attached

is the FINAL. ONCE YOU HAVE REVIEWED, PLEASE EMAIL BACK FROM EACH OF YOU AN

EMAIL SAYING IT'S FINAL/NO ADDITIONAL EDITS.
We made a f ew teeny line edits

•suggested

•
. In addition, w e made the following

edits:

AMERICAN

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TREAS-17-0313-F-000018

 Re: FINAL DOCUMENT
From :

"Callas, George" <george.callas@mail.house.gov>

To:

"Knight, Shahira E. EOP/WHO"

Cc:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>, "Schillinger, Emily"
<emily.schillinger@mail.house.gov> , "Buck, Brendan" <brendan.buck@mail.house .gov>, "Ferrier,
Antonia (McConnell)" <antonia_ferr ier@mcconnell.senate .gov>, "Muzinich, Justin"
<justin.muzinich@treasury .gov> , "Khosla, Jay (Finance)" <jay_khosla@finance.senate .gov>,
"Stewart, David" <david.stewart@mail.house.gov>, "Dunn, Brendan (McConnell)"
<brendan dunn mcconnell.senate.gov>, "Sayegh, Tony E. EOP/WHO"
>, "Lawless, Julia (Finance)" <julia_lawless@finance.senate.gov>,
tewa , on c onne < on_stewart@mcconnell.senate.gov>, "Angus, Barbara"
<barbara.angus@mail.house.gov>

Date:

Tue, 26 Sep 2017 10:36:08 -0400

>

b(5)

On Sep 26, 2017, at 10:34 AM, Knight, Shahira E. EOP/WHO

> wrote :

Yes, Agree. I just wanted confirmation that it was accurate. No need to be a dead horse here.
From : Callas,George[ mailto:George,Callas@mail,house,goy ]
Sent : Tuesday, September 26, 2017 9:52 AM
To: Prater, Mark (Finance) <Mark Prater@finance.senate.gov >
Cc: Schillinger, Emily <Emily.Schillinger@mail.house.gov >; Knight, Shahira E. EOP/WHO
Buck, Brendan <Brendan.Buck@mail.house.gov >; Ferrier, Antonia
(McConnell) <Antonia Ferrier@mcconnell.senate.gov >; Justin Muzinich
<Justin.Muzinich@treasury.gov >; Khosla, Jay (Finance) <Jay Khosla@finance.senate.gov >; Stewart,
David <David.Stewart@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >; Sayegh, Tony E. EOP/WHO
Lawless, Julia (Finance) <Julia Lawless@finance.senate.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate.gov >; Angus, Barbara <Barbara.Angus@mail.house.gov >
Subject: Re: FINAL DOCUMENT
b(5)

On Sep 26, 2017, at 9 :50 AM, Prater, Mark (Finance) <Mark Prater@finance.senate.gov > wrote:
Agree.

Sent from my Verizon, Samsung Galaxy smartphone

-------- Original message-------From: "Callas, George" <George.Callas@mail.house.gov >
Date: 9/26/17 9 :47 AM (GMT-05:00)
To : "Schillinger, Emily" <Emily.Schillinger@mail.house.gov >
Cc: "Knight, Shahira E. EOP/WHO"
>, "Buck, Brendan"
<Brendan.Buck@mail.house.gov >, "Ferrier, Antonia McConnell)"
<Antonia Ferrier@mccon nel I.senate.gov >, Justin Muzi n ich <Justin. M uzi n ich@treasury.gov >,

A.

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TREAS-17-0313-F-000019

 "Prater, Mark (Finance}" <Mark Prater@finance.senate.gov >, "Khosla, Jay (Finance}"
<Jay Khosla@finance.senate .gov >, "Stewart, David" <David.Stewart@mail.house.gov >, "Dunn,
Brendan McConnell "< Brendan Dunn@mcconne ll.senate.gov >, "Sayegh, Tony E. EOP/WHO"
, "Lawless, Julia (Finance}" <Julia Lawless@finance.senate .gov >,
"Stewart, Don (McConnell)" <Don Stewart@mcconnell.senate .gov>, "Angus, Barbara"
<Barbara .Angus@ma ii .house.gov >
Subject: Re: FINAL DOCUMENT

b(5)
On Sep 26, 2017, at 9:39 AM, Schillinger, Emily <Emily.Schil linger@mail.house.gov > wrote:
Adding Barbara too
Sent from my iPhone
On Sep 26, 2017, at 9:38 AM, Knight, Shahira E. EOP/WHO
wrote:

•

:

b(5)

b(5)
On Sep 26, 2017, at 9:34 AM, Callas, George <George.Callas@mail.house.gov > wrote:

b(5)
On Sep 26, 2017, at 9:21 AM, Buck, Brendan <Brendan.Buck@mail.house.gov >
wrote:
Good here
On Sep 26, 2017, at 9:19 AM, Ferrier, Antonia (McConnell)
<Antonia Ferrier@mccon nel I.senate.gov > wrote:

From: Kni ht, Shahi ra E. EOP/WHO

[mailto
Sent : Tuesday, September 26, 2017 9:11 AM
To : Ferrier, Antonia (McConnell)

<Antonia Ferrier@mcconnell.senate.gov >; Justin Muzinich
<Justin.Muzinich@treasury.gov >; Prater, Mark (Finance}
<Mark Prater@finance.senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >; Callas, George
<George.Callas@mai l.house.gov >; (W&M) Stewart, David
<David.Stewart@mail.house .gov>; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnel l.senate .gov>
Cc: Buck, Brendan <Brendan .Buck@mail.house .gov>; Schillinger, Emily
<Emily .Scbillioger@mail .house .gov >; Sayegh, Tony E. EOP/WHO
>; Lawless, Julia (Finance)
<Julia Lawless@finance.senate.gov >; Stewart, Don (McConnell}

AMERICA

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TREAS-17-0313-F-000020

 <Don Stewart@mcconnell.senate.gov
Subject : RE: FINAL DOCUMENT
Thanks Antonia.

>

Two comments:

1)

2)

Thanks again
From : Ferrier, Antonia (McConnell)

[mailto :Antonia

Ferrier@mcconnell.senate.gov

]

Sent : Tuesday, September 26, 2017 8:53 AM
To : Justin Muzinich <Justin .Muzinich@treasury

.gov>; Knight, Shahira E.
EOP/WHO
>; Prater, Mark (Finance)
<Mark Prater@finance .senate.gov >; Khosla, Jay (Finance)
<Jay Khosla@finance.senate.gov >; Callas, George
<George.Callas@mai l.house.gov >; (W&M) Stewa rt, David
<David.Stewart@mail.house.gov >; Dunn, Brendan (McConnell)
<Brendan Dunn@mcconnell.senate.gov >
Cc: Buck, Brendan <Brendan.Buck@mail.house.gov >; Schillinger, Emily
<Emily.Schi llinger@mail.house.gov >; Sayegh, Tony E. EOP/WHO
>; Lawless, Julia (Finance)
<Julia Lawless@finance.senate.gov >; Stewart, Don (McConnell)
<Don Stewart@mcconnell.senate.gov >
Subject : FINAL DOCUMENT
Attached . I believe I have captured ALL the last minute edits and
changes. Please go through and tell me if you find any issues. Need
back by 10AM so we can get this thing produced. Thanks .

AMERICAN

UST 000832
pVERSIGHT

TREAS-17-0313-F-000021

 FINAL DOCUMENT
From :

"Ferrier , Antonia (McConnell)" <antonia _ferrier@mcconnel l.senate .gov>

To:

"Knight, Shahira E. EOP/WHO"
>, "Muzinich, Justin"
<justin.muzinich@treasury.gov> , ra er, ar
mance
<mark_prater@finance .senate.gov> , "Callas , George" <george .callas@mail.house .gov> ,
"Dunn, Brendan (McConnell)" <brendan_dunn@mcconnell.senate .gov> ,
barbara .angus@mail. house .gov, "Stewart , David" <david .stewart@mail. house .gov> ,
"Khosla , Jay (Finance)" <jay_khosla@finance .senate .gov>

Cc:

"Schillinger , Emily" <emi ly.schillinger@mail.house .gov> , "Stewart , Don (McConnell)"
<don_stewart@mcconnell.senate .gov>, "Buck, Brendan"
<brendan.buck@mail.house.gov> , "Lawless , Jul ia (Finance )"
<"ulia lawless finance .senate .gov> , "Sayegh , Tony E. EOP/WHO"
>

Date:
Attachments:

Tue , 26 Sep 2017 11:14:47 -0400
FRAMEWORK -- FINAL.docx (27.72 kB)

Attached .

•

AMERICAN

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TREAS-17-0313-F-000022

 No Sub·ect
From:

b(6)

@treasury.gov>

To:

william_henderson@paul.senate.gov, greg_mcneill@hsgac.senate.gov

Cc:

"Bailey, Bradley" <bradley.bailey@treasury.gov>

Date:

Tue, 26 Sep 2017 18:03:14 -0400

William, GregAs work on tax reform gets ready to kick into a higher gear, I'm writing to acknowledge receipt of and
thank you for the Senator's letter to Secretary Mnuchin dated June 23 regarding tax reform. The
Secretary appreciates having the benefit of the Senator's views on tax reform and we look forward to
working with him and your team as this process continues.
If our Treasury team can be a resource in the weeks ahead as tax reform work continues, please let
Brad {copied) or myself know . Thanks again,

-

~lative
Affairs
Department of the Treasury

AMFfllCAN

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 Re: Tomorrow
From :
To:

"Dunham, Will" <will.dunham@mail.house.gov>

Date :

Tue , 26 Sep 2017 20:23:50 -0400

b(5)

"Maloney, Drew" <drew.maloney@treasury.gov>

b(5)

Thank you.

Sent from my iPhone
On Sep 26, 2017, at 8:20 PM, "Drew.Maloney@treasury.gov " <Drew.Maloney@treasury.gov > wrote:
b(5)

Drew Ma loney
Assistant Secretary of the Treasury
Legislative Affairs
United States Department of the Treasury
1500 Pennsylvania Avenue, NW Suite 3134
Washington, DC 20220
Offic~00
Cell: ~
drew.maloney@treasury .gov

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TREAS-17-0313-F-000024

 FW: FINAL PDF OF THE DOC
From :

"Dunn , Brendan (McConnell)" <brendan_dunn@mcconne ll.senate .gov>

To:
Date:
Attachments:

"Dunn, Brendan (McConnell)" <brendan_dunn@mcconne ll.senate .gov>
Wed , 27 Sep 2017 09:29:04 -0400
Tax Framework .pdf (183.37 kB); Tax Framework_ 1pager.pdf (89.23 kB)

Good morning all.
Attached please find the long-promised "Tax Framework ."

Brendan M. Dunn
Policy Advisor and Counsel
Office of the Senate Majority Leader

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 MORE jobs

I FAIRERtaxes I BIGGER paychecks

UNIFIEDFRAMEWORK
FORFIXING
OURBROKEN
TAXCODE

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TAX

REFORM
I
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OVERVIEW

II
''

7
J

It is now timefor all membersof Congress- Democrat,Republican
and Independent- to supportpro-Americantax reform.It's time
for Congressto providea levelplaying.fieldfor our workers,to bring
~~
American companiesbackhome, to attract new companiesand businesses ,. ,.
to our country,and to put moremoney into thepocketsof everyday
hardworkingpeople.

L

President Donald J. Trump

I Milwaukee Journal Sentinel ISeptember

3, 2017

President Trump has laid out four principles for tax reform: First, make the tax code simple, fair
and easy to understand. Second, give American workers a pay raise by allowing them to keep more
of their hard-earned paychecks. Third, make America the jobs magnet of the world by leveling the
playing field for American businesses and workers. Finally, bring back trillions of dollars that are
currently kept offshore to reinvest in the American economy.
The President's four principles are consistent with the goals of both congressional tax -writing
committees, and are at the core of this framework for fixing America's broken tax code.
Too many in our country are shut out of the dynamism of the U.S. economy, which has led to
the justifiab le feeling that the system is rigged against hardworking Americans. With significant
and meaningful tax reform and relief, we will create a fairer system that levels the playing field
and extends economic opportunities to American workers, small businesses, and middle-income
families.
The Trump Administration and Congress will work together to produce tax reform that will put
America first.

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GOALS
The Trump Administration, the House Committee on Ways and Means, and the Senate Committee
on Finance have developed a unified framework to achieve pro-American, fiscally-responsible
tax reform. This framework will deliver a 21st century tax code that is built for growth, supports
middle-class families, defends our workers, protects our jobs, and puts America first. It will deliver
fiscally responsible tax reform by broadening the tax base, closing loopholes and growing the
economy. It includes:

Tax relief for middle-class families.
The simplicity of "postcard" tax filing for the vast majority of Americans.
Tax relief for businesses, especially small businesses.
Ending incentives to ship jobs, capital, and tax revenue overseas.
Broadening the tax base and providing greater fairness for all Americans by closing
special interest tax breaks and loopholes.

This unified framework serves as a template for the tax-writing committees that will develop
legislation through a transparent and inclusive committee process. The committees will also
develop additional reforms to improve the efficiency and effectiveness of tax laws and to effectuate
the goals of the framework. The Chairmen welcome and encourage bipartisan support and
participation in the process.

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TAXRELi
EFANDSIMPLIFlCATION
FORAMERICAN
FAMILIES
Overthe last decadetoo many hard-workingAmericanshave struggledtofind good-payingjobs, make
endsmeet,providefor theirfamilies and planfor their retirement. They arethefocus of thisframework.
Strengtheningand growingthe middle class,and keepingmore money in theirpockets,is how we build
a strongerAmerica. By loweringthe tax burdenon the middle class,and creatinga healthiereconomy,
we cangiveAmericanfamiliesgreaterconfidenceand help them get ahead. At the same time, taxpayers
deservea systemthat is simplerandfairer. America'stax codeshould be workingfor, not against,middleclassfamilies.

[ ZERO
TAXBRACKET
~
Under the framework, typical middle-class families will see less of their income subject to federal
income tax.
The framework simplifies the tax code and provides tax relief by roughly doubling the standard
deduction to:
- $24,000 for married taxpayers filing jointly, and
- $12,000 for single filers.
To simplify the tax rules, the additional standard deduction and personal exemptions for the taxpayer
and spouse are consolidated into this larger standard deduction. This change is fundamental to a
simpler, fairer system.
In combination, these changes simplify tax filing and effectively create a larger "zero tax bracket" by
eliminating taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a
single individual .

ITNDIVIDUAL
TAXRATE
STRUCTUR
O
Under current law, taxable income is subject to seven tax brackets. The framework aims to consolidate
the current seven tax brackets into three brackets of 12%, 25% and 35%.
Typical families in the existing 10% bracket are expected to be better off under the framework due
to the larger standard deduction, larger child tax credit and additional tax relief that will be included
during the committee process.
An additional top rate may apply to the highest -income taxpayers to ensure that the reformed tax code
is at least as progressive as the existing tax code and does not shift the tax burden from high-income to
lower- and middle-income taxpayers.
The framework also envisions the use of a more accurate measure of inflation for purposes of indexing
the tax brackets and other tax parameters .

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[} NHANCE
DCHILD
TAXCREDIT
ANDMIDDLE
CLASSTAXRELIEF
]
To further simplify tax filing and provide tax relief for middle -income families, the framework
repeals the personal exemptions for dependents and significantly increases the Child Tax Credit.
The first $1,000 of the credit will be refundable as under current law.
In addition, the framework will increase the income levels at which the Child Tax Credit begins
to phase out. The modified income limits will make the credit available to more middle-income
families and eliminate the marriage penalty in the existing credit.
The framework also provides a non-refundable credit of $500 for non -child dependents to help
defray the cost of caring for other dependents.
Finally, the committees will work on additional measures to meaningfully reduce the tax burden on
the middle-class.

D NDIV
IDUALALTERNATIV
EMINIMUM
TAX(AMT
U
The nonpartisan Joint Committee on Taxation (JCT) and the Internal Revenue Service (IRS)
Taxpayer Advocate have both recommended repealing the AMT because it no longer serves its
intended purpose and creates significant complexity. This framework substantially simplifies the
tax code by repealing the existing individual AMT, which requires taxpayers to do their taxes twice.

GTEM
IZEDDEDUCTI
ONS
]
In order to simplify the tax code, the framework eliminates most itemized deductions, but retains
tax incentives for home mortgage interest and charitable contributions. These tax benefits help
accomplish important goals that strengthen civil society, as opposed to dependence on government:
homeownership and charitable giving.

[ WORK
, EDUCATION
ANDRETIREMENT
]
The framework retains tax benefits that encourage work, higher education and retirement
security. The committees are encouraged to simplify these benefits to improve their efficiency and
effectiveness. Tax reform will aim to maintain or raise retirement plan participation of workers and
the resources available for retirement.

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[ OTHERPROVI
SIONSAFFECTIN
GINDIVIDUAL
S]
Numerous other exemptions, deductions and credits for individuals riddle the tax code. The
framework envisions the repeal of many of these prov isions to make the system simpler and fairer
for all families and individuals, and allow for lower tax rates.

[ DEATHANDGENERA
TION-SKIPPINGTRANSFER
TAX
ES]
The framework repeals the death tax and the generation -skipping transfer tax.

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COMPETITIVENESS
ANDGROWTH
FORALLJOBCREATORS
Small businessesdrive our economyand our communities,and they deservea significanttax cut. This
framework createsa new tax structurefor small businessesso they can bettercompete. Furthermore,
America'soutdatedtax codehasfallen behindthe restof the world- costingUS. workersbothjobs
and higherwages. In response,theframeworkputs America'scorporatetax ratebelowthe averageof
otherindustrializedcountriesand promotesgreaterinvestmentin Americanmanufacturing.

[ TAXRATESTRUCTUR
EFOR
SMALLBUSI
NESS
ES]
The framework limits the maximum tax rate applied to the business income of small and familyowned businesses conducted as sole proprietorships, partnerships and S corporations to
25%. The framework contemplates that the committees will adopt measures to prevent the
recharacterization of personal income into business income to prevent wealthy individuals from
avoiding the top personal tax rate.

[ TAXRATE
STRUCT
UREFORCORPORAT
IONS
]
1he framework reduces the corporate tax rate to 20% - which is below the 22.5% average of the
industrialized world. In addition, it aims to eliminate the corporate AMT, as recommended by the
non-partisan JCT. The committees also may consider methods to reduce the double taxation of
corporate earnings.

[ 'EXPENSING"
OFCAPITALINVESTM
ENTS
]
The framework allows businesses to immediately write off (or "expense'') the cost of new
investments in depreciable assets other than structures made after September 27, 2017, for at least
five years. This policy represents an unprecedented level of expensing with respect to the duration
and scope of eligible assets. The committees may continue to work to enhance unprecedented
expensing for business investments, especially to provide relief for small businesses.

[ INTEREST
EXPE
NSE
]
The deduction for net interest expense incurred by C corporations will be partially limited. The
committees will consider the appropriate treatment of interest paid by non-corporate taxpayers.

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[ OTHERBUSINESS
DEDUCTIONSANDCREDITS
]
Because of the framework's substantial rate reduction for all businesses, the current-law domestic
production ("section 199") deduction will no longer be necessary. Domestic manufacturers will see
the lowest marginal rates in almost 80 years. In addition, numerous other special exclusions and
deductions willbe repealed or restricted.
The framework explicitly preserves business credits in two areas where tax incentives have proven
to be effective in promoting policy goals important in the American economy: research and
development (R&D) and low-income housing. While the framework envisions repeal of other
business credits, the committees may decide to retain some other business credits to the extent
budgetary limitation s allow.

[ TAXRULE
SAFFE
CTINGSPEC
IFICINDUSTRIES]
Special tax regimes exist to govern the tax treatment of certain industries and sectors. The
framework will modernize these rules to ensure that the tax code better reflects economic reality
and that such rules provide little opportunity for tax avoidance.

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THEAMERICAN
MODELFORGLOBAL
COMPETITIVENESS
Theframework puts America on a level internationalplaying.fieldand puts an end to the
incentivesfor shippingjobs overseas.

[ TERRITOR
IALTAXATION
OFGLOBALAMER
ICANCOMPANIES
]
The framework transforms our existing "offshoring" model to an American model. It ends the
perverse incentive to keep foreign profits offshore by exempting them when they are repatriated
to the United States. It will replace the existing, outdated worldwide tax system with a 100%
exemption for dividends from foreign subsidiaries (in which the U.S. parent owns at least a 10%
stake).
To transition to this new system, the framework treats foreign earnings that have accumulated
overseas under the old system as repatriated. Accumulated foreign earnings held in illiquid assets
will be subject to a lower tax rate than foreign earnings held in cash or cash equivalents. Payment
of the tax liability will be spread out over several years.

[ STOPPING
CORPORATIONS
FROM
SHIPPING
JOBS
ANDCAPITAL
OVERSEAS
]
To prevent companies from shifting profits to tax havens, the framework includes rules to protect
the U.S. tax base by taxing at a reduced rate and on a global basis the foreign profits of U.S.
multinational corporations. The committees will incorporate rules to level the playing field between
U.S.-headquartered parent companies and foreign-headquartered parent companies.

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HIGHLIGHTS
OFTHEUNIFIED
TAXREFORM
FRAMEWORK
Lowers
Rates
for IndividualsandFamilies
The framework shrinks the current seven tax brackets into three - 12%, 25% and 35% - with the potential for an
additional top rate for the highest -income taxpayers to ensure that the wealthy do not contribute a lower share of
taxes paid than they do today.

Doubles
theStandard
Deduct
ionandEnha
ncestheChildTaxCredit
The framework roughly doubles the standard deduction so that typical middle -class families will keep more of their
paycheck. It also significantly increases the Child Tax Credit.

EliminatesLoopho
lesfortheWealthy
, Protects
Bedrock
Provisions
for Middle Class
To provide simplicity and fairness the framework eliminates many itemized deductions that are primarily used
by the wealthy, but retains tax incentives for home mortgage interest and charitable contributions, as well as tax
incentives for work, higher education, and retirement security.

Repeals
theDeathTaxandAlternativeMinimumTax(AMT
)
The framework repeals the unfair Death Tax and substant ially simplifies the tax code by repealing the existing
individua l AMT, which requires taxpayers to do their taxes twice.

Creates
a NewLower
TaxRateandStructure
forSmall Businesses
The framework limits the maximum tax rate for small and family -owned businesses to 25% - significantly lower
than the top rate that these businesses pay today.

ToCreate
JobsandPromote
Compet
itiveness,
LowerstheCorporate
TaxRate
So that America can compete on level playing field, the framework reduces the corporate tax rate to 20% - below
the 22.5% average of the industrialized world.

ToBoostthe Economy
,Allows Expens
ing of Capital Investments
11

11

The framework allows, for at least five years, businesses to immediately write off (or "expense") the cost of new
investments, giving a much-needed lift to the economy.

Movesto anAmericanModelforCompet
itiveness
The framework ends the per verse incenti ve to offshore jobs and keep foreign profits overseas. It levels the playing
field for Ameri can companies and workers.

BringsProfitsBackHome
The framework brings home profits by imposing a one-time, low tax rate on wealth that has already accumulated
ove1:seasso tfiere is no tax incentive to keeping the money offshore.
UST 000846

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 Fwd: Tax Reform Framework Briefing
Where :

1100 LHOB - Ways and Means Hearing Room

When :

Wed Sep 27 16:00:00 2017 (America/New_York)

Until:

Wed Sep 27 17:00:00 2017 (Ameri ca/New_York)

Organ iser:

"Hudak , Kelley" <kelley .hudak@mai l.house.gov>

Required Attendee:

"Muzinich, Justin" <justin.muzinich@treasury .gov>

From : Hudak, Kelley <Kelley.Hudak@mail. house.gov>
Date : Septem ber 27, 2017 at 4:00:00 PM EDT
To: Guaglianone, Paul <Paul.Guaglianone@ mail.house.gov>, 'Hickman, Bryan {Finance)'

<Bryan_Hic~v>,
Dockery, Derr ick <Derrick. Dockery@ma il. house.gov>, 'Destefano, John J.
EOP/WHO' -----'Erica_Suares@mccon nell.senate.gov' <Erica_Suares@mcconne ll.senate.gov>,
Torres, Alec <Alec.Torres@mail.house.gov>, Barkley, Rachel <Rachel.Barkley@ma il.house.gov>, Limardo, Rick
<Rick.Limardo@ma il. house.gov>, 'Neill, Jim {Budget)' <Jim_Neill@budget.senate.gov>, Callas, George
<George.Callas@mail.house.gov>, Alt house, Joshua <josh.alt house@mail. house.gov>, Reiser, Marti n
<Martin.Reiser@mail.house.gov>, Specht, Brittan <Brittan.Specht@mai l.house.gov>, 'Dunn, Brendan {McConnell)'
<Brendan Dunn@mcconnel l.senate. ov>
Cc: 'Knight, Shahira E. EOP/WHO'
>
Subje ct : Tax Reform Framewo rk Bne mg

Please note the time change of the tax reform cattle call tomo rrow, as the President will now be speaking at
3pm instead of 5pm . Please let me know if this causes any confl icts or if you 'd like any changes to t he
suggested speaking order .
Wednesday , 9/27
Topic: Tax Refor m Framewor k Briefing
Time: 4:00PM
Location : 1100 LHOB (Ways and Means Hearing Room)
Setup :
• podiu m/mic in the front and center
• side tables with mies - panel style for Q&A
• handheld mies for audien ce questions
Agenda:
• House Whip - Marty Reiser
• Speaker - George Callas
• Ways and Means - David Stewart
• McConnell - Brendan Dunn
• Senate Finance - Bryan Hickman (or policy lead)
• Administration - Shahira Knight and/or Shannon McGahn , Johnny Deste fano
• Q&A
• House Whip - Marty Reiser (wrap & rally)
Attendees:
150+ industry and conservative group representatives

AMERICAN

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 FW: Tax Reform Framework Briefing
Where:
When:
Until:
Organiser:
Required Attendee:

1100 LHOB - Ways and Means Hearing Room
Wed Sep 2716 :00:00 2017 (America/New_York)
Wed Sep 27 17:00:00 2017 (America/New_York)
"Hudak, Kelley" <kelley.hudak@mail.house.gov>
"Muzinich, Justin" <justin.muzinich@treasury.gov>

-----Original Appointment----From: Hudak, Kelley [mailto:Kelley.Hudak@mail.house.gov]
Sent: Tuesday, September 26, 2017 12:44 PM
To: Hudak , Kelley ; Knight, Shahira E. EOP/WHO; Destefano, John J. EOP/WHO
Subject: Fwd: Tax Reform Framework Briefing
When: Wednesday, September 27, 2017 4:00 PM-5:00 PM (UTC-05:00) Eastern T ime (US &
Canada).
Where: 1100 LHOB - Ways and Means Hearing Room

From: Hudak, Kelley
Date : September 26, 2017 at 12:59:01 PM EDT
To: Guaglianone, Paul, 'Hickman, Bryan (Finance)' , Torres, Alec , Reiser, Martin , Callas, George ,
'Erica_Suares@mcconnell.senate.gov' , 'Neill, Jim (Budget)' , Althouse, Joshua , 'Destefano, John J.
EOP/WHO' , Specht, Brittan , Barkley, Rachel, Dockery, Derrick , 'Dunn, Brendan (McConnell)', McGahn,
Shannon , Limardo, Rick
Cc: 'Knight, Shahira E. EOP/WHO'
Subject: Tax Reform Framework Briefing
Please note the time change of the tax reform cattle call tomorrow, as the President will now be
speaking at 3pm instead of 5pm. Please let me know if this causes any conflicts or if you'd like any
changes to the suggested speaking order.
Wednesd ay, 9/27
Topic: Tax Reform Framework Briefing
Time: 4:00PM
Location:

1100 LHOB (Ways and Means Hearing Room)

Setup:
1dium/mic in the front and center
je tables with mies - panel style for Q&A
indheld mies for audience quest ions
Agenda:
)use Whip - Marty Reiser
>eaker - George Callas
ays and Means - David Stewart
cConnell - Brendan Dunn
I

/-\ 'J

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 :mate Finance - Bryan Hickman (or policy lead)
iministration - Shahira Knight and/or Shannon McGahn, Johnny Destefano

&A
>use Whip - Marty Reiser (wrap & rally)
Attendees:
150+ industry and conservative group representatives

AMERICAN
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 Ways and Means Coalitions: Unified Framework for Fixing
Our Broken Tax Code
From :

"Guaglianone, Paul" <paul.guaglianone@mail.house.gov>

To :

"Guaglianone, Paul" <paul.guaglianone@mail.house.gov>

Cc :

"Limardo, Rick" <rick.limardo@mail.house.gov>

Date :

Wed, 27 Sep 2017 11:09:54 -0400

Atta chme nts:

Tax Framework .pdf (183.37 kB)

Good morning-

Attached is the Unified Framework for Fixing Our Broken Tax Code.

If your organization will be releasing a statement, please send those our way.
If you would like to be added to our distribut ion list, please let us know.
If you have any questions, please fee l free to reach out at any time.
Thank you,
Paul Guaglianone I Coalitions Coordinator
Committee on Ways and M eans

AMERICAN

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 MORE jobs

I FAIRERtaxes I BIGGER paychecks

UNIFIEDFRAMEWORK
FORFIXING
OURBROKEN
TAXCODE

P ~ERICAN

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I
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OVERVIEW

II
''

7
J

It is now timefor all membersof Congress- Democrat,Republican
and Independent- to supportpro-Americantax reform.It's time
for Congressto providea levelplaying.fieldfor our workers,to bring
~~
American companiesbackhome, to attract new companiesand businesses ,. ,.
to our country,and to put moremoney into thepocketsof everyday
hardworkingpeople.

L

President Donald J. Trump

I Milwaukee Journal Sentinel ISeptember

3, 2017

President Trump has laid out four principles for tax reform: First, make the tax code simple, fair
and easy to understand. Second, give American workers a pay raise by allowing them to keep more
of their hard-earned paychecks. Third, make America the jobs magnet of the world by leveling the
playing field for American businesses and workers. Finally, bring back trillions of dollars that are
currently kept offshore to reinvest in the American economy.
The President's four principles are consistent with the goals of both congressional tax -writing
committees, and are at the core of this framework for fixing America's broken tax code.
Too many in our country are shut out of the dynamism of the U.S. economy, which has led to
the justifiab le feeling that the system is rigged against hardworking Americans. With significant
and meaningful tax reform and relief, we will create a fairer system that levels the playing field
and extends economic opportunities to American workers, small businesses, and middle-income
families.
The Trump Administration and Congress will work together to produce tax reform that will put
America first.

A ~ERICAN

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GOALS
The Trump Administration, the House Committee on Ways and Means, and the Senate Committee
on Finance have developed a unified framework to achieve pro-American, fiscally-responsible
tax reform. This framework will deliver a 21st century tax code that is built for growth, supports
middle-class families, defends our workers, protects our jobs, and puts America first. It will deliver
fiscally responsible tax reform by broadening the tax base, closing loopholes and growing the
economy. It includes:

Tax relief for middle-class families.
The simplicity of "postcard" tax filing for the vast majority of Americans.
Tax relief for businesses, especially small businesses.
Ending incentives to ship jobs, capital, and tax revenue overseas.
Broadening the tax base and providing greater fairness for all Americans by closing
special interest tax breaks and loopholes.

This unified framework serves as a template for the tax-writing committees that will develop
legislation through a transparent and inclusive committee process. The committees will also
develop additional reforms to improve the efficiency and effectiveness of tax laws and to effectuate
the goals of the framework. The Chairmen welcome and encourage bipartisan support and
participation in the process.

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TAXRELi
EFANDSIMPLIFlCATION
FORAMERICAN
FAMILIES
Overthe last decadetoo many hard-workingAmericanshave struggledtofind good-payingjobs, make
endsmeet,providefor theirfamilies and planfor their retirement. They arethefocus of thisframework.
Strengtheningand growingthe middle class,and keepingmore money in theirpockets,is how we build
a strongerAmerica. By loweringthe tax burdenon the middle class,and creatinga healthiereconomy,
we cangiveAmericanfamiliesgreaterconfidenceand help them get ahead. At the same time, taxpayers
deservea systemthat is simplerandfairer. America'stax codeshould be workingfor, not against,middleclassfamilies.

[ ZERO
TAXBRACKET
~
Under the framework, typical middle-class families will see less of their income subject to federal
income tax.
The framework simplifies the tax code and provides tax relief by roughly doubling the standard
deduction to:
- $24,000 for married taxpayers filing jointly, and
- $12,000 for single filers.
To simplify the tax rules, the additional standard deduction and personal exemptions for the taxpayer
and spouse are consolidated into this larger standard deduction. This change is fundamental to a
simpler, fairer system.
In combination, these changes simplify tax filing and effectively create a larger "zero tax bracket" by
eliminating taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a
single individual .

ITNDIVIDUAL
TAXRATE
STRUCTUR
O
Under current law, taxable income is subject to seven tax brackets. The framework aims to consolidate
the current seven tax brackets into three brackets of 12%, 25% and 35%.
Typical families in the existing 10% bracket are expected to be better off under the framework due
to the larger standard deduction, larger child tax credit and additional tax relief that will be included
during the committee process.
An additional top rate may apply to the highest -income taxpayers to ensure that the reformed tax code
is at least as progressive as the existing tax code and does not shift the tax burden from high-income to
lower- and middle-income taxpayers.
The framework also envisions the use of a more accurate measure of inflation for purposes of indexing
the tax brackets and other tax parameters .

A ~E

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[} NHANCE
DCHILD
TAXCREDIT
ANDMIDDLE
CLASSTAXRELIEF
]
To further simplify tax filing and provide tax relief for middle -income families, the framework
repeals the personal exemptions for dependents and significantly increases the Child Tax Credit.
The first $1,000 of the credit will be refundable as under current law.
In addition, the framework will increase the income levels at which the Child Tax Credit begins
to phase out. The modified income limits will make the credit available to more middle-income
families and eliminate the marriage penalty in the existing credit.
The framework also provides a non-refundable credit of $500 for non -child dependents to help
defray the cost of caring for other dependents.
Finally, the committees will work on additional measures to meaningfully reduce the tax burden on
the middle-class.

D NDIV
IDUALALTERNATIV
EMINIMUM
TAX(AMT
U
The nonpartisan Joint Committee on Taxation (JCT) and the Internal Revenue Service (IRS)
Taxpayer Advocate have both recommended repealing the AMT because it no longer serves its
intended purpose and creates significant complexity. This framework substantially simplifies the
tax code by repealing the existing individual AMT, which requires taxpayers to do their taxes twice.

GTEM
IZEDDEDUCTI
ONS
]
In order to simplify the tax code, the framework eliminates most itemized deductions, but retains
tax incentives for home mortgage interest and charitable contributions. These tax benefits help
accomplish important goals that strengthen civil society, as opposed to dependence on government:
homeownership and charitable giving.

[ WORK
, EDUCATION
ANDRETIREMENT
]
The framework retains tax benefits that encourage work, higher education and retirement
security. The committees are encouraged to simplify these benefits to improve their efficiency and
effectiveness. Tax reform will aim to maintain or raise retirement plan participation of workers and
the resources available for retirement.

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[ OTHERPROVI
SIONSAFFECTIN
GINDIVIDUAL
S]
Numerous other exemptions, deductions and credits for individuals riddle the tax code. The
framework envisions the repeal of many of these prov isions to make the system simpler and fairer
for all families and individuals, and allow for lower tax rates.

[ DEATHANDGENERA
TION-SKIPPINGTRANSFER
TAX
ES]
The framework repeals the death tax and the generation -skipping transfer tax.

A ~ERICAN

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COMPETITIVENESS
ANDGROWTH
FORALLJOBCREATORS
Small businessesdrive our economyand our communities,and they deservea significanttax cut. This
framework createsa new tax structurefor small businessesso they can bettercompete. Furthermore,
America'soutdatedtax codehasfallen behindthe restof the world- costingUS. workersbothjobs
and higherwages. In response,theframeworkputs America'scorporatetax ratebelowthe averageof
otherindustrializedcountriesand promotesgreaterinvestmentin Americanmanufacturing.

[ TAXRATESTRUCTUR
EFOR
SMALLBUSI
NESS
ES]
The framework limits the maximum tax rate applied to the business income of small and familyowned businesses conducted as sole proprietorships, partnerships and S corporations to
25%. The framework contemplates that the committees will adopt measures to prevent the
recharacterization of personal income into business income to prevent wealthy individuals from
avoiding the top personal tax rate.

[ TAXRATE
STRUCT
UREFORCORPORAT
IONS
]
1he framework reduces the corporate tax rate to 20% - which is below the 22.5% average of the
industrialized world. In addition, it aims to eliminate the corporate AMT, as recommended by the
non-partisan JCT. The committees also may consider methods to reduce the double taxation of
corporate earnings.

[ 'EXPENSING"
OFCAPITALINVESTM
ENTS
]
The framework allows businesses to immediately write off (or "expense'') the cost of new
investments in depreciable assets other than structures made after September 27, 2017, for at least
five years. This policy represents an unprecedented level of expensing with respect to the duration
and scope of eligible assets. The committees may continue to work to enhance unprecedented
expensing for business investments, especially to provide relief for small businesses.

[ INTEREST
EXPE
NSE
]
The deduction for net interest expense incurred by C corporations will be partially limited. The
committees will consider the appropriate treatment of interest paid by non-corporate taxpayers.

A ~ERICAN

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[ OTHERBUSINESS
DEDUCTIONSANDCREDITS
]
Because of the framework's substantial rate reduction for all businesses, the current-law domestic
production ("section 199") deduction will no longer be necessary. Domestic manufacturers will see
the lowest marginal rates in almost 80 years. In addition, numerous other special exclusions and
deductions willbe repealed or restricted.
The framework explicitly preserves business credits in two areas where tax incentives have proven
to be effective in promoting policy goals important in the American economy: research and
development (R&D) and low-income housing. While the framework envisions repeal of other
business credits, the committees may decide to retain some other business credits to the extent
budgetary limitation s allow.

[ TAXRULE
SAFFE
CTINGSPEC
IFICINDUSTRIES]
Special tax regimes exist to govern the tax treatment of certain industries and sectors. The
framework will modernize these rules to ensure that the tax code better reflects economic reality
and that such rules provide little opportunity for tax avoidance.

A ~ERICAN

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THEAMERICAN
MODELFORGLOBAL
COMPETITIVENESS
Theframework puts America on a level internationalplaying.fieldand puts an end to the
incentivesfor shippingjobs overseas.

[ TERRITOR
IALTAXATION
OFGLOBALAMER
ICANCOMPANIES
]
The framework transforms our existing "offshoring" model to an American model. It ends the
perverse incentive to keep foreign profits offshore by exempting them when they are repatriated
to the United States. It will replace the existing, outdated worldwide tax system with a 100%
exemption for dividends from foreign subsidiaries (in which the U.S. parent owns at least a 10%
stake).
To transition to this new system, the framework treats foreign earnings that have accumulated
overseas under the old system as repatriated. Accumulated foreign earnings held in illiquid assets
will be subject to a lower tax rate than foreign earnings held in cash or cash equivalents. Payment
of the tax liability will be spread out over several years.

[ STOPPING
CORPORATIONS
FROM
SHIPPING
JOBS
ANDCAPITAL
OVERSEAS
]
To prevent companies from shifting profits to tax havens, the framework includes rules to protect
the U.S. tax base by taxing at a reduced rate and on a global basis the foreign profits of U.S.
multinational corporations. The committees will incorporate rules to level the playing field between
U.S.-headquartered parent companies and foreign-headquartered parent companies.

A ~ERICAN

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9

 RE: State and Local Deduction
From :

"Bailey, Bradley" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt )/cn=recipients/cn= 7eb678b02d9b41 c0af365038a082c58e-bailey, bradI">

To:

"Arias, Karolina (Van Hollen)" <karolina_arias@vanhollen.senate.gov>

Date :

Wed, 27 Sep 2017 17:34:04 -0400

Brad Bailey
Deputy Assistant Secretary for Tax and Budget
Office of Legislative Affairs
U.S. Department of the Treasury
Brad ley.ba ii ey@treasury.gov
C: • •
0: (202) 622-2878

From: Arias, Karolina (Van Hollen) [mailto:Karolina_Arias@vanhollen.senate.gov]
Sent : Wednesday, September 27, 2017 12:41 PM
To: Kellogg, Matthew <Matthew .Kellogg@treasury.gov>; Bailey, Bradley

<Brad ley. Baii ey@treasury.gov>
Subject: State and Local Deduction
Importance: High
Matt and Brad,
Does the President plans to eliminate the state and local income deduction from his tax proposal?
My direct is below.
Thanks,
Karolina

Karolina Arias
Senator Chris Van Hollen
110 Hart Senate Office Building
Washington, DC 20510
202-228-1102
Karolina arias@vanho llen.senate.gov

f

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 Re: follow u
From:

"Maloney, Drew" <"/o=ustreasury/ou=exchange
administrative group
(fydibohf23spdlt)/cn=recipients/cn=0aa00d7c98de43f9aec8f68a919f6fe3-maloney,

To:

"Herndon, Randy (Toomey)" <randy_hemdon@toomey.senate.gov>

Date:

Wed, 27 Sep 2017 20:50:57 -0400

drew">

Thank you, it was a pivotal meeting. Let's touch base on budget.
Drew Maloney
Assistant Secretary of the Treasury
Legislative Affairs
United States Department of the Treasury
1500 PennsylvaniaAvenue, NW Suite 3134
Washington, DC 20220
Offi~O
Cell:IIWalllllllllll
drew .malo ney@treasury.gov

From: Herndon, Randy (Toomey) <Randy_Herndon@toomey.senate.gov>
Date: September 27, 2017 at 3:12:13 PM EDT
To: Maloney, Drew <Drew.Maloney@treasury.gov>
Subject: follow up

Sorry that our convo got cut off.
I failed to let you know how appreciative my boss is o~ur
get to consensus w/ Senate GOP Budget members on ----

boss's efforts in helping

Huge first step. Thanks again.

Randy Herndon I Tax Counsel
Office of U.S.Senator Pat Toomey
202-224-4254 I toomey.senate.gov

00

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 From :

"Muzinich, Just in" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=3d2afce60d7 e464fbd30ff8dbedefecb-muzinich, jus">

To:

"Prater , Mark (Finance)" <mark_prater@finance.senate.gov>

Date :

Thu, 28 Sep 2017 05:50:50 -0400

Thanks Mark

From: Prater, Mark {Finance) <Mark _ Prater@finance.senate.gov>
Date: September 27, 2017 at 9:18:39 PM EDT
To: Muzinich, Justin <Justin.Muzinich@treasury.gov>, Dunn, Brendan {McConnell)
<Brendan_Dunn@mcconne ll.senate.gov>, Knight, Shahira E. EOP/WHO
>, Callas,
George <George.Callas@mail. house.gov>, Barbara.Angus@Ma il.House.Gov Barbara.Angus@Mail.House .Gov
<Barbara.Angus@Mail.House.Gov>
Subject: Fwd: Politic o: Lobbyists prepare for battle royal over tax breaks

Sent from my Verizon, Samsung Galaxy smartphone

Lobbyists prepare for battle royal over tax breaks
By Theodoric Meyer
09/27/2017 08:46 PM EDT
House Speaker Paul Ryan warned Republican lawmakers on Wednesday to steel themselves to
hear from "10,000 lobby ists" set on defending prized tax breaks that could be on the chopp ing
block.
Those lobbyis ts are gett ing ready , too .
The tax blueprint released by the "Big Six" Republican negotiators on Wednesday promised to
hack the corporate rate down to 20 percent but included few detai ls about which tax breaks would
be eliminated to pay for their plan. So lobbyists are prepar ing for a flurry of business owners flying
to Washington, TV ads, grassroots campaigns and shoe-leather lobbying to defend their most
cherished tax breaks.
"It will not take long for us to organize ourselves ," said James Ballentine, the top lobbyist for the
American Bankers Assoc iation, which is waiting to swing into action to defend businesses' ability
to deduct interest on loans and other tax prov isions. 'We will be ready and on standby."
A coalition concerned with the interest expense issue has already placed opinion pieces in local
newspapers . Another group that wants to protect deductions for state and local taxes plans to
mobilize teachers , firefighter s and other constituents to contact lawmakers .

Al

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 Republicans, under intense pressure to pass a tax bill after their failure to repeal Obamacare,
released an outline Wednesday but are waiting as long as possible to divulge the full details of
their tax plan in an effort to stave off the lobbying hurricane. Some lobbyists think lawmakers won't
have the stomach to eliminate enough special-interest tax breaks to pay for dramatic rate cuts.
"I can't even imagine Republicans doing full-fledged tax reform that steps on toes," said one
veteran tax lobbyist.
Still, many tax breaks could be at risk. Cutting the corporate tax rate to 20 percent - from the
current rate of 35 percent - and repealing the alternative minimum tax would cost $1.9 trillion
over the next decade, according to an estimate released Wednesday by the Committee for a
Responsible Federal Budget. Lawmakers will have to make up revenue somewhere if they want to
avoid blowing an enormous hole in the deficit.
Most industries have at least one cherished tax provision they're preparing to defend. Earlier this
year, when a proposal known as the border-adjustment tax threatened to raise taxes on retailers,
the industry ran millions of dollars' worth of TV ads to try to convince consumers the tax would
hurt them by raising prices. The campaign worked, killing the border-adjustment tax before it could
get off the ground.
Some issues are harder to explain to the public.
"No one's going to be holding up signs picketing for interest deductibility," said Mac O'Brien, a
spokesman for the BUILD Coalition, an umbrella group fighting changes to the way businesses
deduct interest on their loans, which Republicans didn't fully address on Wednesday. "It's a little
bit of a nuanced issue."
Instead, the coalition has targeted Sen. Dean Heller (R-Nev.), a member of the Senate Finance
Committee who's facing a tough reelection fight next year, with op-eds in Nevada newspapers
from local businessmen. The coalition is also pressing former businessmen such as Sens. Johnny
Isakson and David Perdue , both Georgia Republicans.
The Advertising Coalition, meanwhile, is preparing to defend companies' ability to deduct
advertising spending on their taxes - a sacred provision for broadcasters, newspapers and other
businesses that depend on ad revenue. If the provision appears under threat, Jim Davidson, the
coalition's executive director, said, "we'll accelerate that and make sure that we reach every state
and congressional district that members of the tax-writing committees represent."
Republicans did signal on Wednesday that they would go after state and local tax deductions,
despite opposition from House Republicans in New York, New Jersey and other blue states
whose residents face the highest state and local taxes. That alarmed Americans Against Double
Taxation, which formed last week to preserve the deductions.
Andrew Koneschusky, a spokesman for the coalition, wouldn't say exactly how the group will fight
the proposal. But he said the coalition's member organizations - including the National
Governors Association, the National Association of Realtors and the American Federation of
Teachers - expect to press members of Congress to preserve the break.
"All of the organizations that are part of the coalition have ground troops," Koneschusky said, from
governors to teachers to firefighters.
Not every industry is preparing to go to war.
Retailers say that after they won the border-adjustment tax battle, there's little lawmakers could
propose that would scare them.
"We're a lot less likely to be manning the barricades" than other groups, said David French, the
National Retail Federation's top lobbyist. "Our members have told us there aren't really provisions
in the tax code they want to protect. They want us to get the lowest possible rates."
The National Association of Home Builders, on the other hand, was ready to do battle either way.
They drew up ads and op-eds both supporting and opposing tax reform while waiting for
Wednesday's outline.

I

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 "I don't believe in waiting and seeing," Jerry Howard, the association's chief executive, said in an
interview last week. "We have everything in the can already."
On Wednesday, Howard came out in support of Republicans' plan despite uncertainty about what
will happen to the mortgage interest deduction. The pro-reform print ad campaign will start inside
the Beltway as early as next week, according to the association, with TV ads to follow.
Other traditional defenders of the mortgage interest deduction untouchable tax break-declined
to join them.

seen for decades as an

"We're trying not to overreact to a press release that they throw out at the very beginning of a very
long process," Jamie Gregory, the National Association of Realtors' vice president, said of the
home builders' move. "They're making a strategic play here to be on the positive side of the table,
whereas I think we're going to make a strategic decision that it's time to start speaking out."
To view online:
https ://www.politicopro.com/technology/story/2017 /09/lobbyists-prepare-for-battle-royal-over-taxbreaks-162650
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 RE: State and local tax info
From :

"Bailey, Bradley" <"/o=ust reasury/ou=exchange administrative group
(fydibohf23sp dlt)/cn= recipients/en= 7eb678b02d9b41 c0af365038a08 2c58e-bailey, bradI">

To:

"Specht, Brittan" <brittan.specht@mail.house.gov>

Date :

Mon, 02 Oct 2017 14:04:28 -0400

Atta chments:

SALT Example.pdf (74.92 kB)

From : Specht, Brittan [mai lto:Brittan.Specht@mail.house.gov]
Sent : Monday, October 02, 2017 1:36 PM
To: Bailey, Bradley <Brad ley.Bailey@treasury .gov>
Subject: RE: State and local tax info

202-225-9917
From : Bradley.Bailey@treasury.gov [mailto:Bradley .Bailey@treasury.gov]
Sent : Monday, October 02, 2017 1:35 PM
To: Specht, Brittan <Brittan.Specht@mai l.house.gov>
Subject: RE: State and local tax info

What is the best# for you?
From : Specht, Brittan [mai lto :Brittan.Specht@mail.house .gov ]
Sent : Monday, October 02, 2017 11:16 AM
To: Bailey, Bradley <Brad ley.Bailey@treasury .gov>
Subject: State and local tax info

Good MorningBrad -

Let me know if this makes sense.
Thanks!

Brittan G. Specht, CFA
Majorit y Leader Kevin McCarth y

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 RE: Meetin tomorrow?
From:

"O'Neil, Jennifer (Ron Johnson)" <jennifer_o'neil@ronjohnson.senate.gov>

To:

Cc:

"Miller, Eli" <eli.miller@treasury.gov>
b(6)

Date:

Thu, 05 Oct 2017 16:04:36 -0400

@treasury.gov>

Terrific, thank you. We are happy to work around your schedule if there is a time that works best!
From: Eli.Miller@treasury.gov
[mailto:Eli.Miller@treasury.gov]
Sent: Thursday, October 5, 2017 3:20 PM
To : O'Neil, Jennifer {Ron Johnson) <Jennifer_O 'Neil@ronjohnson

.senate.gov>

@treasury.gov
Subject: Re: Meeting tomorrow?

Cc:, •

Yes.

From: O'Neil, Jennifer (Ron Johnson) <Jennifer _O'Neil@ronjohnson .senate .gov>
Date: October 5, 2017 at 2:20:36 PM EDT
To: Miller, Eli <Eli.Miller@treasury .gov>
Subject: Meeting tomorrow?
Good afternoon

Mr. Miller,

I very much apologize for the late ask, but is there any chance you would have time tomorrow to
meet with Senator Johnson regarding tax reform? If so, Senator Johnson is happy to come over to the
Treasury Department.
Thank you for the consideration!
Best,
Jen

Jennifer CYNeil
Directorof Operations
Office of Senator Ron Johnson (WI)
Chairman of the Senate Home land Secur ity & Gove rnmenta l Affairs Committee
202-224-5323 I 328 Hart Senate Office Bu ilding I www.ronjohnson.senate.gov

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 RE: Politico: No tax cut for the wealthy? Easier said than
done
From :

"Kautter, David" <"/o=ustreasury/ou=exchange administrative group
(fydibohf23spdlt)/cn=recipients/cn=946683dadce24f0fb93291a12ca fc0f7-kautter , dave">

To:

"Prater, Mark (Finance)" <mark_prater@finance.senate.gov>

Date :

Fri, 06 Oct 2017 07:49:53 -0400

Thanks
From: Prater, Mark (Finance) [mailto:Mark_Prater@finance.senate.gov]
Sent : Friday, October 06, 2017 7:25 AM
To: Brandt, Daniel (Toomey) <Danie l_Brandt@toomey.senate.gov>; Herndon, Randy (Toomey)
<Randy_Herndon@toomey.senate .gov>; Muzinich, Justin <Justin.Muzinich@treasury.gov>; Kautter,
David <David.Kautter@treasury.gov>
Cc: Knight, Shahira E. EOP/WHO
>; Khosla, Jay (Finance)
<Jay_Khosla@finance .senate .eov>; Wrase, Jeff (Finance) <Jeff_Wrase@finance .senate .gov>
Subject: Fwd: Politico: No tax cut for the wealthy? Easier said than done

Sent from my Verizon, Samsung Galaxy smartphone

No tax cut for the wealthy? Easier said than done
By Brian Faler
10/06/2017 05:00 AM EDT
Republicans want to make the middle class the big winners in their tax plans , but here's the thing:
Average Americans already pay a small share of income taxes.
Those levies are primarily borne by peop le much further up the income ladder , with the top 0.1
percent of earners projected to pay more to the IRS than the bottom 80 percent combined. This
year, officia l government data show, the top 20 percent will pay 95 percent of all income taxes.
That's why some say it's becoming increasingly difficult to cut taxes, especially tax rates , without

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 favoring the rich.
"It's basically impossible to have a large tax cut that doesn't involve most of the benefits going to
high-income groups just because that's who pays taxes now," said Adam Looney, who was
deputy assistant Treasury secretary for tax analysis in the Obama administration.
That's a big political problem for Republicans who want their plans to rewrite the tax code
focused on helping the politically all-important middle class. They know voters take a dim view
of cutting taxes on the rich, and want to fend off inevitable attacks from Democrats that the
GOP's tax plans amount to a giveaway to millionaires and billionaires.
Republicans have already rewritten their plans to avoid giving so much to the wealthy. They've
dropped plans to cut taxes on capital gains, and they're considering a to-be-determined higher tax
bracket on the rich.
Earlier this year, in a sign of Republicans' nervousness over the issue, lawmakers dropped plans
to kill an investment surtax on the wealthy as part of their Obamacare repeal plans, amid
complaints it would disproportionately help the top 1 percent.
They've also repeatedly slammed a report last week by the nonpartisan Tax Policy Center
showing their proposal would mostly help high earners.
"Do you know who we think about when we think about tax reform and tax relief?" House
Speaker Paul Ryan asked Thursday during an event in Maryland to promote tax reform.
"We think about the moms and dads who go to bed worrying about the next day, whether or not
they can make ends meet - we're thinking about the people in this country who are living
paycheck to paycheck," he said. "The purpose of tax relief is: Give middle-income taxpayers a
tax cut."
But the challenge for Republicans goes beyond the particulars of the "Big Six" tax framework
released last week or the TPC analysis.
They are confronting a tax system where the tax burden is increasingly bunched up at the top of
the income spectrum, thanks to huge earnings gains by the rich and the fact that the U.S. has one
of the most progressive income tax systems in the world.
The top 1 percent- about 1 million families earning at least $379,000 -will pay 45 percent of
all individual income taxes collected this year, and almost one-third of taxes overall, including
corporate, payroll, estate and excise taxes.
More modest income gains among average Americans, as well as repeated efforts by Congress to
cut taxes on low- and middle-income people, mean those groups are shouldering a declining share
of the tax burden.
The average federal tax rate on people in the middle three income quintiles - those whose
earnings put them in the 21st to 80th percentile of incomes - has fallen by 30 percent since
1979 to 13.8 percent, according to the nonpartisan Congressional Budget Office. Rates on lowincome people have declined even further, by 57 percent, to 3.3 percent.
"The fact that they don't pay very much in taxes means that it's very hard to provide them with a
large tax cut," said Looney, now a fellow at the Brookings Institution.

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 Not just that: It's hard to cut tax rates on moderate-income people without simultaneously
benefiting the rich. That's because everyone pays the same marginal tax rates on, say, their first
$50,000 in income, regardless of how much they make in total. So cutting, for example, the 15
percent tax bracket helps the poor and rich alike.
The challenge for Republicans is compounded by the fact that they aren't simply trying to cut
taxes on middle-income people. They also want to promote economic growth by reducing rates
on businesses.
They plan to slash the corporate rate to 20 percent, from the current 35 percent- which
President Donald Trump has called non-negotiable - while cutting taxes on unincorporated
businesses to 25 percent.
But that exacerbates their income distribution problems, because those taxes are
disproportionately paid by high earners who would be the primary winners if they're cut.
Almost half of the corporate tax will be paid this year by the top 1 percent, according to
Treasury. Economists believe the corporate tax is mostly passed onto companies' shareholders.
And nearly 60 percent of so-called Schedule E income - which includes earnings by S
corporations, partnerships and limited liability companies - will accrue this year to people
making more than $1 million, according to projections by Congress's Joint Committee on
Taxation.

If lawmakers really wanted to cut moderate-income people's taxes, some say they should reduce
payroll taxes, the biggest levies people earning less than $200,000 now pay.
But that comes with its own political baggage.
For one thing, the main payroll tax funds Social Security, and cutting that 12.4 percent charge
would hurt the old-age program's finances - and no politician wants to be accused of
undermining it.
That payroll tax was also designed to create the sense among payers that they paid directly into
the program and are therefore owed checks when they retire, and many lawmakers are wary of
eroding that link.
Thirdly, it would face procedural problems in Congress. Republicans want to use so-called
budget reconciliation to move their tax plan through the Senate, over Democratic objections, and
changes to payroll taxes are not allowed in such measures.
That's why some Republicans are turning to what's been a Democratic strategy for helping people
who owe little in taxes: expanding "refundable" tax credits. Those allow people to receive a
check from the government when the credits exceed their tax bills.
Republicans are particularly focused on expanding the $1,000 child tax credit, promising to
increase the maximum size and loosen the program's eligibility rules. They haven't decided
specifics, though Sens. Marco Rubio and Mike Lee are demanding lawmakers at least double the
credit.
"The tax reform framework released by the Trump administration and Senate and House
leadership last week sets up tax reform so that the amount of tax relief working families receive
will be largely dependent upon how much the child tax credit is increased," Rubio said in an
analysis released Thursday.

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 He wants to allow people to begin claiming it against their payroll taxes.
"Making the child tax credit refundable against payroll tax liability is essential to meaningfully
cutting taxes for America's working class families, as the majority of American workers pay
more in payroll taxes than they do income taxes," it said.
Expanding refundable credits is controversial among Republicans, though, because it can take
people off the income tax rolls altogether and, in the federal budget, many of the credits count as
increasing spending, not cutting taxes. And it's expensive.
Some supply-siders complain it does little for economic growth.
Republicans are also borrowing an idea from former House Ways and Means Chairman Dave
Camp: imposing a surtax on the rich.
They haven't said how it would work, or even if it will definitely be included, but Camp - who
was also trying to avoid disproportionately helping the wealthy as part of his own tax reform plan
- created a particularly onerous tax on the rich that dunned everything from their retirement
contributions to their health care benefits.
Even if lawmakers can find a way to give people at different income levels the same percentage
tax cut, it may not sound equal to voters when those percentages are converted into dollars giving a millionaire a 5 percent tax cut can seem a lot bigger break than a similar-sized cut for
some making $50,000.
But Ryan Ellis, a conservative tax consultant, says most people don't care how much the rich
receive in tax cuts so long as they get what they consider to be meaningful reductions as well.
"Ask a family making $87,000 with two kids if they could use an extra $1,200," he said.
"The Jones family doesn't give as--- if distribution tables that JCT or Treasury or TPC put out
are skewed at some end because of the pass-through rate - they don't know or care about any of
that," said Ellis. "To them, it's a new refrigerator, it's a vacation they couldn't take.
"That's the way they look at it, that's the way Republicans look at it, and that's how we sell tax
relief to the middle class."
To view online:
https://www.politicopro.com/tax/stm:y/2017/10/no-tax-cut-for-the-wealthy-easier-said-than-done163015

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 RE: Tax Reform Meetin
From:

"Hanna, Christopher (Finance)" <christopher _hanna@finance.senate.gov>

To:

''Trier, Dana" <dana .trier@treasury .gov>

Date:

Fri, 06 Oct 2017 14:20:13 -0400

great
From: Dana.Trier@treasury .gov [ma i Ito :Dana .Trier@treasury.gov]
Sent : Friday, October 06, 2017 2:20 PM
To: Hanna, Christopher (Finance) <Christopher_Hanna@finance.senate.gov>
Subject: RE: Tax Reform Meeting

I am on my way up

From: Hanna, Christopher (Finance) <Christopher
Date: October 6, 2017 at 2:12:00 PM EDT
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: RE:Tax Reform Meeting

Hanna@finance.senate.gov >

We will be meeting in Dirksen 215. Could you go to Dirksen 219 and then they will let us know when
you arrive.
From: Dana.Trier@treasury.gov [mailto:Dana.Trier@treasury.gov ]
Sent: Friday, October 06, 2017 2:11 PM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov >
Subject: RE: Tax Reform Meeting

Where do you want to meet precisely?
Dana

From: Hanna, Christopher (Finance) <Christopher
Date: October 5, 2017 at 6:32:47 PM EDT
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: RE:Tax Reform Meeting

Hanna@finance.senate.gov >

That's great.
From: Dana.Trier@treasury .gov [ma ilto :Dana .Trier@treasury.gov ]
Sent: Thursday, October 05, 2017 5:42 PM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov >
Subject: RE: Tax Reform Meeting

I think that works.

From: Hanna, Christopher (Finance) <Christopher

Hanna@finance.senate.gov >

Date: October 5, 2017 at 5:34:13 PM EDT
1c.n

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 To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: RE:Tax Reform Meeting
Dana,
How about 215pm-330pm tomorrow?
Thanks.
From: Dan a .Trier@treasury.gov [ma i Ito :Dan a .Trier@treasury.gov ]
Sent: Thursday, October 05, 2017 5:13 PM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov >
Subject: RE: Tax Reform Meeting

Somewhat coincidentally I was thinking of the same conversation the last couple of days. Definitely
available either tomorrow or next week. Subject to talking to Dave quickly, why don't you give me a
few times that work for you and I will see whether I have an actual conflict . Tomorrow I cannot meet
1-2 because of meeting with House LAs on the Reg Report. Also have a meeting back here at 4.
Dana
From: Hanna, Christopher (Finance) [mailto:Christopher
Hanna@finance.senate.gov ]
Sent: Thursday, October 05, 2017 4:14 PM
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: Tax Reform Meeting
Dana,
When we spoke a few weeks, we mentioned meeting with you to discuss a number of different areas
of tax reform. You responded that you would be happy to do so and could come over to our office to
do so. We would like to take you up on that . Are you available anytime soon - tomorrow or next
week?
Thanks .
From: Dan a .Trier@treasury.gov [ma i Ito :Dan a .Trier@treasury.gov ]
Sent: Wednesday, August 16, 2017 12:22 PM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov >
Subject: RE: Lunch

I am at the entrance in the middle of the floor
as opposed to by the elevator and bar. I am across from Jos Bank.
See you later.

From: Hanna, Christopher (Finance) <Christopher
Date: August 16, 2017 at 12:19:19 PM EDT
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: RE: Lunch

Hanna@finance.senate.gov >

Running a few minutes late. Thanks.

Sent from my Verizon, Samsung Galaxy smartphone

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 -------- Original message -------From: Dana.Trier@treasury.gov
Date: 8/16/17 10:49 AM (GMT-05:00)
To: "Hanna, Christopher (Finance)" <Christopher_Hanna@finance.senate.gov >
Subject: RE: Lunch
I will meet you there at 12:15. If late just shoot me an email. but no problem.

From: Hanna, Christopher (Finance) <Christopher
Date: August 16, 2017 at 10:40:51 AM EDT
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: RE: Lunch

Hanna@finance.senate.gov >

Dana, would Union Station - say Pizzeria Uno-work?
noticed. How about 121Spm?

We have a meeting until noon that was just

From: Dan a .Trier@treasury.gov [ma i Ito :Dan a .Trier@treasury.gov ]
Sent: Wednesday, August 16, 2017 9:47 AM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov
Subject: RE: Lunch

>

Yes we still are good . We do have a drafting session at 2 or so, but I am free at lunch . . Noon is best
for me . I am perfectly happy to meet you at a place of your choice .
Dana
From: Hanna, Christopher (Finance) [mailto :Christopher Hanna@finance.senate.gov
Sent: Wednesday, August 16, 2017 9:29 AM
To: Trier, Dana <Dana.Trier@treasury.gov >
Cc: Coughlan, Tony (Finance) <Tony Coughlan@finance.senate.gov >
Subject: RE: Lunch

]

Dear Dana,
Are we still good for lunch today? Noon?

From: Dan a .Trier@treasury.gov [ma i Ito :Dan a .Trier@treasury.gov ]
Sent: Thursday, July 27, 2017 5:55 PM
To: Hanna, Christopher (Finance) <Christopher Hanna@finance.senate.gov
Subject: RE: Lunch

>

Yes, works fine for me . Let us put it down, and then confirm early that week .
Dana
From: Hanna, Christopher (Finance) [mailto:Christopher
Sent: Thursday, July 27, 2017 4 :06 PM
To: Trier, Dana <Dana.Trier@treasury.gov >
Subject: Lunch

Hanna@finance.senate.gov

]

Dana,

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 It was good seeing you last night. Are you available for lunch on Wednesday August 16th ?
Thanks.
Christopher H. Hanna
Senior Policy Advisor for Tax Reform
U.S. Senate Finance Committee
Republican Staff
(202} 224-4515
Christopher Hanna@finance.senate.gov

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