The Voice: Policy - September 11, 2018
September 11, 2018
House Releases Updated Plan for Tax Cuts
The House recently released a three-page plan for a second round of tax cuts (Tax Cuts 2.0). The plan would make individual tax cuts, as well as the $10,000 cap on state and local tax deductions, permanent. It would also expand retirement savings options for small businesses and allow start-ups to deduct more costs, building on the President’s Executive Order from last week.
The Ways and Means Committee chairman, Kevin Brady, has indicated his panel will meet to approve legislation this week; House Speaker Paul Ryan has committed to getting a vote on the House floor before the end of the month. If the bill passes the House, it would require least 9 Democrats to support the bill in the Senate to pass.