Bloomberg Industry Group Engages Tax Policy Leaders on 2025 Challenges and Key Objectives

Bloomberg Industry Group Discusses Vital Tax Policy for 2025

Last week, the Bloomberg Industry Group presented a significant event titled "Tax Policy Perspectives in 2025," which focused on essential updates and strategies shaping the coming year for tax policies. This momentous discussion served as a platform for prominent figures and experts to share their insights, setting the tone for what could potentially be a transformative year in tax legislation.

The event, facilitated by Bloomberg Government and Bloomberg Tax, highlighted a notable interview with Congressman David Schweikert (R-AZ), a key member of the U.S. House Ways and Means Committee. During the interview conducted by Bloomberg Tax reporter Chris Cioffi, Congressman Schweikert addressed pressing issues regarding reconciliation and deficit spending. He stated unequivocally that if the party's leading tax bill were to be financed through debt, he would oppose it, emphasizing, "There's no free options. We're going to have to do hard things."

Following the interview, a panel consisting of industry leaders took the stage to dissect tax policy priorities for the 119th U.S. Congress and the Trump administration. They focused on significant topics such as the impending expiration of critical provisions within the Tax Cuts and Jobs Act (TCJA) and President Trump's commitments to adjust corporate tax rates, modify the SALT cap, and alleviate taxes on tips, overtime pay, and Social Security.

The session commenced with moderator Lindsay Bartholomew, the Bloomberg Tax Practice Lead, who effectively set the discussion's groundwork. She remarked, "We're going to tell you about what's going to be in a potential bill, how we get that bill passed, and who is going to pay for it."

The panel included distinguished tax policy specialists such as Dr. Douglas Holtz-Eakin, president of the American Action Forum; Rohit Kumar, principal and co-leader of the National Tax Services Practice at PWC; and Lisa Wolski, managing director at Washington Counsel Ernst & Young. This expert ensemble discussed the anticipated trajectory of a tax bill expected to surface within the initial 100 days of the new administration.

Evan Croen, the head of Bloomberg Tax Accounting, provided the audience with context regarding current congressional debates on the TCJA's future and other significant tax proposals in the reconciliation process. He maintained that Bloomberg Tax and Bloomberg Government are instrumental in keeping tax and government affairs professionals informed about the latest developments in tax policy and their implications for their work.

Also, attendees at the event were informed of a replay scheduled for Wednesday, February 12, at 2:00 PM ET, aimed at ensuring wider accessibility to the vital discussions held. Interested parties could register at Bloomberg Tax.

In conclusion, this event not only highlighted the complexities surrounding the 2025 tax policies but also served as a reminder of the ever-evolving landscape that tax professionals must navigate. Bloomberg Industry Group continues to establish itself as a leader in equipping professionals in government, law, tax, and accounting fields with the necessary industry knowledge and AI-enabled technology, empowering them to make informed decisions in a critical financial climate. For more information, visit bloombergindustry.com.