Debevoise tax partner Gary M. Friedman spoke with Bloomberg about significance of the sweeping tax reform proposals now being considered.

Mr. Friedman noted, “That the two proposals contain dueling provisions covering fundamental tax issues -- and the legislative process has been rushed and chaotic -- creates uncertainty for the markets and for deal makers.” He also observed, “[The bills] upend decades of U.S. tax policy. They so radically change the landscape that almost every multinational corporation will have to rethink its tax strategy.”

Senate’s Offshore Tax Ideas Could Be a ‘Goldmine’ for Some Companies  
By Lynnley Browning
November 14, 2017