Concerns Grow Over the Impacts of House and Senate Tax Bills

Congress is back from Thanksgiving break and confronted with some significant choices, including passage of a tax bill that substantially reduces the corporate tax rate and eliminates some common individual tax deductions, like the property tax and the inheritance tax. From the outset, the goal has been to pass a tax cut bill – good or bad — before Congress breaks for the Christmas holiday. To do this House and Senate Republicans are moving at breakneck speed to get the bill to the president for his signature. This week the Senate will begin considering its version of the tax reform bill, which is wildly unpopular with the general public. The House passed its version two weeks ago, and if Senate Republican leaders have their way, their version will pass in the next week. This leaves just enough time to conference the two bills and create a single version that can… Read More Concerns Grow Over the Impacts of House and Senate Tax Bills