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Posted December 8th, 2017

It Ain’t Over ‘Til It’s Over: Tax Law Update 12/08/17

We are well into December, Christmas and New Year’s are just around the corner, and we still don’t know if a major tax overhaul is going to happen by the end of the calendar year.

Last week, it seemed more likely than not that Congress would pass a new tax bill. This week … the jury’s still out. On 12/2, the House voted to take the bill passed by the Senate to conference. On 12/6 the Senate appointed their members of the tax reform conference committee. Today, President Trump signed a stopgap spending bill to avoid a government shutdown, buying Congress two more weeks to pass a budget. Now the Senate and House members can attempt to reach agreement on how to reconcile the differences in the two version of the bill.

As always, we’ll stay on top of the tax reform news as it continues to become more complicated. In the meantime, here are some articles that will give you more information on what we’re seeing and expecting.

Important Differences Between the House and Senate Bills Heading Into Conference (Tax Foundation). This is an important read because this details the hurdles facing Congress to the passing of a bill.

McConnell Announces Senate’s Republican Members of the Tax Reform Conference Committee (Senate majority leader Mitch McConnell press release)

Conference Committee Could Still Destroy Tax Reform (The Hill)

by Barlow Mann

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