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Tax Cuts and Jobs Act: Key Points to Initial House Bill

VIEW PLANNING UPDATE (PDF)

SUMMARY

The Republican members of the House of Representatives released their proposed tax plan, entitled the Tax Cuts and Jobs Act, on November 2. The bill proposes sweeping changes to the Internal Revenue Code that would dramatically impact individuals and corporations. Learn more about the proposed tax plan in this planning update which includes a summary of changes.

KEY TAKEAWAYS

  • Republicans in the House of Representatives have released their proposed tax plan with both expected changes and some surprises.
  • We will continue to monitor these announcements and weigh the implications of any legislative progress toward the goals put forth in the framework.
  • The House bill is just the first step in the journey; the final approved bill may look much different.