Reports suggest that the US Congress is making progress toward tax reform. The House of Representatives is still slated to vote on its version tomorrow. It appears likely to pass. The Senate version will be marked up in committee this week. The latest revisions include repealing the individual insurance mandate and ending the middle class and small business tax break after 10 years to reduce the long-term costs while keeping the corporate tax cut permanent. Many proponents of the proposals make it seem that a corporate tax cut is a panacea for all that ails the US. It will boost investment, which in turn will boost ... (full story)