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“Permanent Tax Cuts of Americans Act” Introduced by the House

This past Monday, Republican House Representative Rodney Davis introduced H.R. 4886, to make the individual provisions of the newly enacted tax law permanent.  Under this bill, subtitles A and B of the tax law, which lower the individual tax rates, would be extended past their 2025 sunset dates with the goal to “provide future tax relief for individual taxpayers”. Read the Bill here:...

Speaker Ryan Foresees only Technical Corrections to the Tax Reform Bill, Rather Than Major Changes

In an interview with C-SPAN, House Speaker Paul Ryan stated that the bill previously known as the Tax Cuts and Jobs Act would require some technical corrections, such as in the area of international taxation, though he did not offer further details. He anticipates that any corrections to the bill would be small changes. House Ways and Means Committee Chair Keven Brady has also stated...

Title: Tax Bill Passes in House

House Republicans voted to pass the Senate’s revised version of the Tax Cuts and Jobs Acts today. Read More: House sends sweeping GOP tax bill to Trump’s desk

Tax Bill Passes in Senate Wednesday Morning, House Expected to Vote (Again) Later Today

Senate Republicans voted to pass a revised version of the Tax Cuts and Jobs Acts early Wednesday morning. The House voted yesterday in favor of the legislation, however several minor provisions of the bill did not comply with Senate rules and had to be removed. The House is expected to vote on the revised version of the bill sometime today. Read More:  Senate passes sweeping GOP tax...

Conference Committee Agreement Released for Tax Cuts & Jobs Act

House and Senate Republicans unveiled their collective tax bill with the Conference Report and Agreement early Friday night. The text follows the Senate bill, but resolves differences between the Senate and House bills, and makes modifications and clarifications throughout. Republicans are expected to vote this week. Conference Report and Bill Read more: GOP unveils sweeping tax...

With a Consensus Tax Bill, Christmas May Come Early for Republicans

An agreement between Senate and House Republicans on a tax bill was finalized Wednesday morning. According to lawmakers and reports from aides, Senate and House Republicans have agreed to provisions including the following: • Corporate tax rate will drop from 35% to 21%, to go in effect in 2018. • Individuals will be allowed to deduct up to $10,000 in state and local taxes, split...

House-Senate Conference Committee Meeting on Republican Tax Reform Bill Held Today

The House-Senate Conference Committee met today to discuss the previously passed Senate and House versions of the Tax Cuts and Jobs Act. During this meeting the Chief of Staff of the Joint Committee on Taxation, Thomas Barthold, provided a brief overview of the key differences in the tax bills and answered questions regarding the two bills in question. This is the only such meeting of...

Brady Indicates That Tax Legislation Will Include Repeal of Individual Mandate

The Senate voted to go to conference in order to reconcile their tax bill with the House Tax bill today. However, there are many differences that need to be worked out between the two bills. Key differences include the repeal of the alternative minimum tax, the implementation timing of the corporate tax rate reduction, and the repeal of the individual mandate. The repeal of the...

House Sends Tax Cuts and Jobs Act to Conference Committee

The House voted Monday to send the Tax Cuts and Jobs Act to conference committee to resolve the differences between the House and Senate versions of the bill. The committee has 14 House total members, 9 Republican and 5 Democratic. The Republican members are: Keven Brady (the Chair of the House Ways and Means Committee), Ron Bishop, Diane Black, Kristi Noem, Devin Nunes, Peter Roskam,...

Senate May Vote on Its Tax Reform Bill as Early as Thursday, but There Are Hurdles to Overcome

At least a half dozen Republican senators have shown concern about the Senate version of the Tax Cuts and Jobs Act, threatening the passage of the bill by the end of this year. The bill, passed out of the Senate Finance Committee on November 17, faces its next major hurdle from the Senate Budget Committee who will meet Tuesday, November 28, to add a revenue-raising measure allowing...

Ways and Means Committee Amends the Tax Cuts and Jobs Act

On Monday, the House Ways and Means Committee approved an amendment offered by Kevin Brady to the proposed tax reform bill. The amendment revises the rules targeting the international base erosion by providing a foreign tax credit, among other items. This amendment also imposes an additional holding period requirement for capital gain on carried interest, increasing the holding period...

Senate Will Not Release Bill Until House Finishes Markup

The House Ways and Means Committee  continues the markup process that began on Monday.  No new amendments were agreed to in yesterday’s markup session but the state and local tax deduction and pass-through entities remain key issues in the debate concerning the legislation.  The House’s negotiation process has important implications for the Senate timeline as the Senate bill will not...

Senate Bill Anticipated Later This Week; House Begins Markup of Their Tax Reform Legislation

  The House Ways and Means Committee began marking up the GOP tax bill this afternoon, and the process is expected to continue until Thursday. The markup will start with opening statements and then amendments are expected to be introduced throughout the week by Chairman Kevin Brady.  With the floor open to Democrats, discussions and amendments are anticipated to focus on the...

Delayed Tax Reform Bill Is Expected To Be Released Thursday

Kevin Brady, the Republican chair of the House Ways and Means Committee, stated that the tax reform bill will be released on Thursday. The bill was originally slated to be released today but there are still several unsettled matters related to the plan, such as the in threshold for the top marginal individual tax rate. The Ways and Means Committee remains set to mark up the bill on...

Set Phasers to Stun: Corporate Tax Cuts May Be Delayed Under Phase-in Plan

An unnamed member of the House Ways and Means Committee stated Monday that the Committee is discussing a phase-in plan for the corporate tax-rate cut. In response, Kevin Brady, Chairman of the House Ways and Means Committee, said only that the Committee preferred an option with no phase-in. Both President Trump and Treasury Secretary Steve Mnuchin also expressed their preference for an...


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