Tax Cuts and Jobs Act

Today, the U.S. House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) by a 227-205 partisan vote.

The bill now advances to the U.S. Senate and will serve as a vehicle for the Senate to pass their own version of the tax reform overhaul legislation.

When and if the Senate passes its own bill, the two chambers will go to conference and reconcile the differences between the two tax reform bills.