Eversheds Sutherland Tax Reform Law Blog
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House Budget Would Extend Individual TJCA Provisions

On June 19, 2018, the House Budget Committee released a 10-year budget plan that, if passed, would provide a vehicle to extend the individual tax provisions enacted under the TJCA past their current expiration date in 2025 through the budget reconciliation process. To help reduce the cost of extending the cuts, the budget plan requires committees to submit legislation to reduce the...

Legislation for Phase 2 of Tax Reform Expected in August

House Ways and Means Committee Chair Kevin Brady indicated that Republicans hope to have a proposal for healthcare and additional tax changes by August. While the contents of the bill remain uncertain, potential topics include: permanent individual income tax provisions, retirement savings, the treatment of capital gains, and employer incentives for helping to pay back student loan...

Congressman States that the TCJA will not be Amended, Despite EU Criticism

Rep. Peter Roskam, a Republican member of the House Ways and Means Committee, stated at a conference that, despite criticism from EU officials, Congress does not intend to amend the Tax Cuts and Jobs Act (TJCA). Some EU officials have been particularly critical of the foreign-derived intangible income provision, arguing that the provision essentially acts as an export subsidy which...

The Upcoming FAA Authorization May Not Contain Any Technical Corrections to the Tax Legislation

House Ways and Means Chairman Kevin Brady has indicated that the upcoming Federal Aviation Administration (“FAA”) reauthorization bill is unlikely to contain additional technical corrections to the 2017 tax bill, despite containing a tax title. Congress had previously passed, in the 2018 Consolidated Appropriations Act, a technical correction to fix a provision that encouraged farmers...

House Passes Revised Bill; Senate to Vote as Early as Tonight

The House has passed the Tax Cuts and Jobs Act, as revised by the Conference Committee, along party lines. The bill will now go to the Senate, who may vote as early as this evening. Should the bill pass both houses, it will be sent to President Trump to sign into law. Read more:  House Passes Final Tax Bill; Senate Votes Next on Republican...

House Passes the Tax Cut and Jobs Act

The House voted to pass H.R. 1, the Tax Cuts and Jobs Act, that passed through committee last week without further amendment. Read the bill as passed here.

House Bill Passes Out of Committee; Senate Releases Policy Highlights in Advance of Release of Proposed Tax Legislation

The House Ways and Means Committee finished their markup of the Tax Cuts and Jobs Act and voted to advance the bill. The House plans to vote on the proposed bill next week. The Senate Committee on Finance released a summary highlighting the policy underpinnings for the Senate’s version of the Tax Cuts and Jobs Act. Now that the House Ways and Means Committee has finished the markup...