Ernst & Young LLP comments on US Senate tax reform vote

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Dec 02, 2017, 09:46 ET

WASHINGTON, Dec. 2, 2017 /PRNewswire/ -- Michael Mundaca, Ernst & Young LLP's National Tax Department Co-Director and former Assistant Secretary for Tax Policy at the US Treasury Department, comments on today's Senate vote on tax reform:

"This vote signals we are entering the final stages of enacting tax reform and, in addition, it provides the necessary space for Congress to address the budget and avoid a possible government shutdown in the next few days. While the budget negotiations will now move to the fore, work will continue to get a tax reform bill to the President before year end. If you haven't been paying much attention to this, you need to do so now. Everyone should understand the possible impact of tax reform and companies should consider the financial statement implications."

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