
House and Senate Tax Plans Differ
November 16, 2017 5:36 pmOn Nov. 9, Senate Finance Committee Chairman Orrin Hatch (R-Utah) released a Senate version of the Tax Cuts and Jobs...
On Nov. 9, Senate Finance Committee Chairman Orrin Hatch (R-Utah) released a Senate version of the Tax Cuts and Jobs...
NSBA provides a detailed analysis on the recently-released Tax Cuts and Jobs Act of 2017 (H.R. 1) which would have significant impacts on numerous sectors of the economy.
Congress has once again put off until the very end of the year important work on tax extenders, only now working to meld the House and Senate versions passed months ago.
Congress is facing a hefty to-do list, including tax extenders and a massive spending bill that must get done by Dec. 11 in order to avert a government shutdown.
Yesterday, the Senate Finance Committee approved legislation to address the temporary tax deductions, credits and incentives that expired at the end of 2014, or so-called "tax extenders," in an effort to avoid another last-minute extension.
Last week, the House passed the America’s Small Business Tax Relief Act of 2015, which would make permanent the now-expired enhanced small business expensing limit of $500,000.
Later this week, the House will vote on several bills that would permanently extend now-expired tax provisions including increased section 179 expensing and tax relief for S corporations.
Earlier this week, Reps. Pat Tiberi (R-Ohio) and Ron Kind (D-Wis.) reintroduced the bipartisan America’s Small Business Tax Relief Act to permanently extend increased Section 179 expensing.
The House may vote on a bill—as soon as today—that would extend for 2014 only the so-called tax “extenders,” while an omnibus spending package is expected to hit the House floor next week.
When Congress returns to Washington, D.C. next week, there are several must-pass pieces of legislation awaiting them, including appropriations bills, reauthorization of Ex-Im Bank, tax extenders, the internet tax moratorium, and much more.