House Approves Three New Tax Bills
On September 27, 2018, the House approved two bills that are part of a second package of tax law changes advanced by House Republicans (“Tax Reform 2.0”). The first bill would create universal savings accounts, expand the utility of section 529 education savings plans, and make the offering of employee retirement plans more accessible for small businesses. The second bill would provide additional benefits for start-up companies. Also, on September 28, 2018, the House approved a third bill, which would make permanent the individual tax cuts enacted by the 2017 Tax Cuts and Jobs Act.
Read the legislation: H.R. 6757; H.R. 6756; H.R. 6760
Read more: House Passes Two Bills in New GOP Tax Package; House Passes Tax-Cut Bills Despite Unlikely Senate Action