Boston’s Karl Fryzel, Co-Chair of Locke Lord’s Tax Department, provided insight on the reconciliation of the House and Senate tax reform bills, specifically the two chambers’ versions of the Tax Cuts and Jobs Act, or H.R. 1. Fryzel noted that the debate on these policy proposals is more likely to be guided by how much they cost or how much revenue they will raise for the country than by what is the best tax policy for the country.
Fryzel told Law360: “The policy debates can be interesting and fascinating, but if they don’t lead to a bill that can pass, they’re irrelevant. The policy will be sacrificed for the number crunching to meet the budgetary requirements.”
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