Senate Passes Tax Reform Bill

On December 2, 2017, the Senate narrowly passed the Tax Cuts and Jobs Act, the Senate Republicans' version of tax reform legislation. With this vote, Congress is one step closer to sending a tax reform bill to the President for his signature. Prior to the vote, several amendments were included to secure the support of key Republican senators and to bring some provisions of the Senate bill closer to the version passed by the House of Representatives on November 16, 2017. A comparison of the most significant provisions of the House and Senate bills can be found here. Our previous coverage of the tax reform legislative process up to this point can be found here and here.

Some of the late changes to the Senate legislation include: