tax-reform-timeline

Tax Reform Timeline

tax-reform-timelineEveryone is wondering how Tax Reform will be on President Trump’s desk before Christmas. Here is an estimated timeline as of 11/16/2017 according to the goals of Congress and the White House.

 

Sprint to Tax Reform

11/2/2017                House Bill revealed

11/9/2017                Senate Bill revealed

11/9/2017                House Bill moved from Ways & Means Committee to House vote

11/16/2017              House Bill Passes House by 11/16/2017

11/20-26/2017        Senate Thanksgiving break

11/27-12/1/2017     Senate Bill Passes House by this week

11/17-27/2017         House Thanksgiving break

12/15/2017              House breaks for Christmas

12/17/2017              Senate breaks for Christmas – TAX REFORM DUE TO PRESIDENT

After the bill is introduced, the applicable committee (Senate-Senate Finance Committee, House-Ways & Means Committee) makes changes and then sends the Bill for vote. These Bills must be identical to become law. If they pass as different bills, they will have to be reconciled in a joint conference committee.

Are you concerned about the effects of the Tax Reform proposals to your tax situation?

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