Middle Tennessee neighbors uneasy with tax reform uncertainty

Middle Tennessee neighbors uneasy with tax reform uncertainty (Fox 17 News file)

As tax reform deadline approaches, people in middle Tennessee are worried about the fine print.

Each family and person has a different situation. Brentwood mom Terry Jo Bichell’s son Lou has a rare neuro-genetic disorder called Angelman syndrome. Bichell said they rely on the Orphan Drug act which gives tax credits to drug companies for rare disease treatment and medication.

With what she’s seen in the House and Senate tax bills, Bichell said she fears what will happen without the act helping families with rare disorders.

“I just came from this conference, and they talked about these cures,” Bichell said. “And now what if they never get into my son because of this tax repeal? It's a terrible thing that could actually really, really hurt a lot of people so I'm frantic."

Charlie Phillips, a 30-year small business owner, said he likes what he sees in the GOP tax bills.

“We need to run this country like a business,” Phillips said. “We need tax reform. Trump comforts me because when he said he's going to take our corporate rate down and give us some tax relief. That's why I voted for him.”

To help us understand what we’re facing, CPA and TSU’s First Chair Professor of Accountancy Stephen Shanklin explained some of the unknown in the tax bill.

“The middle class from, what I have seen early on, some would be winners and some would be losers," Shanklin said. "I don't think it's going to be neutral to many of them.”

The House and Senate now work to find a common ground in conference committee to have a bill on the President’s desk before Christmas.

close video ad
Unmutetoggle ad audio on off