House Passes Tax Reform Measure

Filed in Capitol Hill by on December 19, 2017 0 Comments

capitolOn a 227-203 vote, the House of Representatives today approved the Tax Cuts and Jobs Act, sending the legislation to the Senate for approval.

NAHB was at the forefront of the tax reform debate, earning earned clear victories on the real estate exception to the business interest deduction, second homes, private activity bonds, the capital gains exclusion and many other provisions.

“We’re pleased that this bill is moving swiftly toward President Trump’s desk. It’s good for small business, and more importantly, it will continue to spur our nation’s economic growth,” said NAHB chairman Granger MacDonald.

The Senate will immediately begin consideration of the bill, with final passage in the Senate expect late tonight or early tomorrow.

The bill, which has the votes to pass the Senate, will then go to President Trump for his signature. The president is expected to sign the bill this week.

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