House Approves 3 Tax Reform Bills; No Plans for Senate Action

Filed in Capitol Hill by on September 28, 2018 0 Comments

taxThe House this week approved a package of three tax bills known collectively as “Tax Reform 2.0” that are intended to build on the enactment of last year’s Tax Cuts and Jobs Act (TCJA).

However, the Senate is not expected to act on any of the measures prior to the election.

The Protecting Family and Small Business Tax Cuts of 2018 (H.R. 6760) would make permanent the provisions of the TCJA that are scheduled to expire on Dec. 31, 2025.

The Family Savings Act of 2018 (H.R. 6757) focuses on promoting individual and retirement savings.

The American Innovation Act of 2018 (H.R. 6756) would provide start-up businesses with new tax benefits.

Read more details on the tax bills.

For more information, contact J.P. Delmore at 800-368-5242 x8412.

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