President Trump has promised Americans tax reform for Christmas. And, so far, it seems it’ll be a gift he can deliver. As of this posting, GOP leaders believe they have the votes in the Senate and House to pass the tax bill, which underwent a number of significant changes. Click here to download our new white paper detailing the bill expected to be passed and how nonprofits might help donors navigate the complicated waters.
So, what’s next?
Again, as of this posting (the process has taken more twists than an episode of Law & Order), it appears the House is on track to pass the bill today (Tuesday, December 19). From there, the bill will be sent to the Senate for voting on Wednesday, December 20. If it passes the Senate, it will go to President Trump’s desk to be signed, which he is expected to do by the end of this week.
Update 12/19/17, 1:40 p.m.- the House just voted to pass the tax bill: https://www.house.gov/. The bill will now go to the Senate for vote. They could vote on it as early as tonight and, if passed, send to President Trump tomorrow.
Update 12/19/17, 3:50 p.m. – House must vote for tax bill again. http://thehill.com/blogs/floor-action/house/365670-house-will-have-to-vote-for-tax-cut-bill-again. Passage by Senate now not expected until Wednesday.
Update 12/20/17, 8:00 a.m. – Senate voted last night to pass the tax bill. http://abcnews.go.com/Politics/republicans-expected-pass-tax-reform-measure/story?id=51870650. Bill goes back to House for second vote today.
Update 12/20/17, 10:25 a.m. – House is voting on tax bill now. http://houselive.gov/
Update 12/20/17, 11:58 p.m. – The House has officially voted to pass the tax reform bill. It now will go to President Trump’s desk. He is expected to sign it before the end of the week.
But if there’s anything we’ve learned in 2017, it’s that nothing is sure until it happens.
We’re staying on top of all the twists and turns and will be prepared with all the information you need, as well as tools to help you communicate to your donors who to make the most of their giving in light of tax reform, including the white paper linked above and a booklet to send to donors (coming soon).
Stay tuned, and in the meantime, here are some good articles you might explore for more details.
“What’s In – and Out of – the Final Republican Tax Bill” (The Atlantic)
“GOP on Precipice of Major End-of-Year Tax Victory” (The Hill)
“This Week: Congress Braces for Tax and Spending Showdown” (The Hill)