February 18, 2016 – President Barack Obama recently released his fiscal year 2017 budget proposal. The President’s budget contains 145 separate proposals, including re-statements from 2016. Here is how they break down:

• 6 are new
• 15 are modifications or combinations from 2016
• 9 were adjusted to reflect policy changes
• 115 are basically the same as those proposed last year

Given that we’re in a presidential election year, it is unlikely that Congress will act on most of the provisions. However, some of the proposals, including those to fund “one-off” tax breaks or to confront certain controversial strategies, such as corporate inversions, may move through Congress this year. Please click this link to read a brief summary of the budget published in the Journal of Accountancy.

For more information, please contact Al Nigro at anigro@dopkins.com.

About the Author

Albert A. Nigro CPA, CVA

Albert A. Nigro CPA, CVA is a partner in the Tax Advisory Group of Dopkins & Company, LLP. As the leader of Dopkins CAAS team, he focuses on developing solutions for clients to help them improve their finance and accounting functions through re-engineered processes, digital transformation and optimal utilization of talent.