EY Principal Ray Beeman participated in a video interview during Nareit’s REITWISE: 2024 Law, Accounting and Finance Conference, held March 19-21 in Hollywood, Florida.
Beaman stressed the critical importance of the ongoing election cycle in shaping future tax legislation. He underlined the importance of negotiating leverage, saying, “What is at stake is nothing less than the distribution of negotiating leverage as we move toward what is almost inevitably the next major chapter in America’s comprehensive tax reform. ” He highlighted that both the balance of power between parties and internal party dynamics will play an important role in shaping the agenda.
Regarding the impact of global corporate tax changes on US policy, Beaman pointed to a substantial impact for the next administration. Highlighting Congress’s limitations in influencing the global tax landscape, he said, “The next administration will be far more influential when it comes to US influence over global corporate tax changes.”
Turning to the ongoing tax extension bill, Beaman stressed the importance of individuals involved in the negotiation process. He emphasized the continuity of key figures after the election and their role in shaping future tax reform efforts.
