It’s 1986, Mike Tyson becomes the youngest heavyweight champion in history, a woman named Oprah Winfrey debuts on national TV, the Rock and Roll Hall of Fame inducts its first members and we all felt that “Need for Speed” after seeing “Top Gun” in theaters. It also was the last time the House, Senate and White House agreed on major tax reform and passed a bill in to law.
Though it’s been nearly 32 years, we have been here before, but have never achieved the reforms made back then. In recent years, associations such as ASA have worked with the committees of jurisdiction as they’ve offered drafts of tax reform, only to fall apart. The House Ways and Means and Senate Finance committees have gone through several iterations of listening sessions, wanting to hear what small businesses and manufacturers wanted to see included (and excluded) from reform.