Tax Reform Update
Since the start of the new administration, there has been much speculation regarding potential tax law changes. Below is a comparison of revisions proposed by President Trump on the campaign trail, the House of Representatives in the House blueprint known as the “Better Way for Tax Reform,” and the Tax Cut and Jobs Act proposal released by the House Ways & Means Committee on November 2, 2017. Final legislation will depend in large part upon the budgeting process and various procedural rules that govern the passage of laws. However, the comparison may provide you with a flavor of potential things to come.