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Treasury Secretary Steven Mnuchin and President Donald Trump Zach Gibson/Bloomberg
On Sept. 27, Republican leaders in Congress and the Trump administration released a much-anticipated “Unified Framework” for tax reform. The nine-page document lists a set of priorities for legislators to follow, and is meant to be the “the foundation Congress will use to craft legislation around middle-income tax cuts, a simpler and fairer tax code, and the most competitive business tax rates, so American companies of all sizes can create jobs, give their workers a pay raise, and grow the economy,” Treasury Secretary Steven Mnuchin said in a statement announcing the framework.

As part of their comprehensive resources on tax reform, the tax experts at Bloomberg BNA have released a special report on the framework — “Tax Reform 2017: How the ‘Unified Framework’ Would Change Current Law” — that includes the following list of the most important ways the framework would change current law, as well as how it wouldn’t.