Repeal (and Don't Replace) TEFRA 1706

With the election of Donald Trump and Republican majorities in the House and Senate, we have an unprecedented opportunity to roll back the worst economy-killing laws and regulations of the Obama and Bush eras.  Obamacare, Dodd-Frank, and the Keystone pipeline top the list, but there are dozens if not hundreds more that no one outside specific industry niches has even heard of, which cumulatively are equally if not more destructive.  Congress and the president need to take an axe to all of them.  To cite one example: TEFRA 1706.  TEFRA is the Tax Equity and Fairness (there's that word! run away!) Reform Act of 1986.  I call it the Democrats' Revenge for Reagan's Tax Cuts Act.  Buried inside that law is Section 1706, which deals with the regulation of independent computer consultants.  In a nutshell, it lays out over a dozen "tests" of the independence of computer consultants working for client companies, failing which tests,...(Read Full Article)

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