Tax Cuts and Job Act: Comparing the House and Senate Proposals
On November 2, 2017, the House of Representatives released the first draft of a tax reform bill entitled the Tax Cuts and Jobs Act. Since the Act’s release, there have already been several changes to the Act’s proposals. The House Ways and Means Committee made several amendments to the plan before approving the Act on November 9th. The changes would bring the cost of the bill over a decade to just over $1.4 trillion, as estimated by the Joint Committee on Taxation.