On 4 March 2015, U.S. Senators Marco Rubio and Mike Lee put forward a tax reform proposal named the Economic Growth and Family Fairness Tax Reform Plan. The plan would simplify the U.S. tax regime overall and includes the following main corporate tax measures.
- Allow for a 100% deduction for capital investments in the year incurred with no allowance for economic depreciation in subsequent years. A transition period would apply where investments still being deprecated under the old tax code wo…