Mark Pryor discusses prospects of tax reform with Law360

2 min

Venable partner and former Arkansas Senator Mark Pryor was interviewed in an April 17, 2017, Law360 article on the prospects of tax reform. An overhaul of the country's tax code was a central plank of President Donald Trump's election campaign and he promised to release a plan shortly after taking office. No plan has emerged leaving businesses to question what tax laws will be in place next year and the president has refocused his attention back to healthcare reform.

"I think what people are looking for is momentum, and until you see some momentum and some building toward something, I don't think people have a lot of hope that they're going to get reform or healthcare reform done," said Pryor. "We hear interviews, we see tweets, we see news stories. Sometimes, they're leaks, whatever. So, we see that. But then what do we see actually moving?"

Pryor added that the president will have to make up for lost momentum by appointing advisers he needs to move tax reform through Congress, answer basic questions about how reform will affect the federal deficit and debt, and what he ultimately hopes to accomplish. "I'm not sure the president has articulated any of that yet," he said. "The bottom line is if you're serious about tax reform, you cannot go into this process with vague notions. You have to know specifically what you're trying to accomplish."