The bearish assessment suggests little faith in the GOP, which has for years promised a massive tax code overhaul if voters gave the party control of Washington.
Now in control, however, Republicans have struggled to find unity on a plan that can flatten the code while not sending the country spiraling into debt or angering key constituencies.
Meaningful tax reform by next summer is “less likely than not,” said Jeffrey Maydew, who works in global tax planning at the legal firm Baker McKenzie.
And big changes are unlikely to happen at all if things don’t materialize by early next year, said Christopher J. Wolter, vice president of tax for Boeing, who says he’s “less optimistic than I was” about major action before next summer.
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