US tax policy complexities persist, making it critical for business leaders and their advisors to continue to monitor ongoing developments closely. From concerns over the deficit impact to issues with the sale of government-owned radio spectrum, the Senate continues to contend with a long and complex list of topics that are potentially problematic for a number of majority party senators. The breadth of the issues, as well as hard-line views on certain provisions held by a handful of senators, could delay the enactment of a final bill until later this summer, beyond President Trump’s July 4th target date.

Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote.

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