Look, I was a real life tax lawyer for a lot of years. I guess now I'm in recovery. I completely get that the complexity of the tax code and the perverse incentives therein are a drag on business. I have seen plenty of business decisions derailed or slowed or altered by tax issues. I am in support of lowering the headline corporate rate to make the US more internationally competitive (but it should be revenue neutral by trimming corporate deductions, since we know that the actual net rate paid by US corps is not that high). I am in favor of tax code simplification to free up capital for investment and to reduce tax planning drag on business decisions.
Increasing the number of middle class households who take the standard deduction instead of itemizing is great, but it will have zero impact on the real business issues that need to be addressed. And from what I've seen, this proposal just adds another layer of complexity to privately held business decisions, compounding the existing problems.
So yay Republicans, way to find a solution in search of a problem. A whole bunch of Trump voting scorp owners are going to be real disappointed in April when to their accountants tell them they can't file their taxes soon a postcard like dear leader promised.