Jenner & Block

Tax Reform Update: The Tax Cuts and Jobs Act

The GOP issued its long-awaited tax bill, H.R.-1 the Tax Cuts and Jobs Act, on November 2, 2017, and the Chairman’s Mark-up of the bill on November 3.  The House bill goes next to the Ways and Means Committee, which is likely to make further changes to reflect, in part, public reaction to many of the changes proposed.  Upon release, the Tax Bill was accompanied by a section-by-section summary, a Joint Committee explanation, and revenue impact analysis and parallel analyses accompanied the chairman’s markup.  These are the first steps in the tax writing process.

Read more.