The Trump administration launched another round of tax reform proposals last month. The proposals include a 15 percent business tax rate and a one-time tax to encourage the repatriation of trillions of dollars held overseas. The proposals are very broadly drafted and there was no information on how the tax cuts would be funded other than through economic growth.

Throughout the month of May, the Trump Administration plans to consult with various stakeholders and the American Congress to develop the reform measures in more detail.