Nov 17, 2017

House Approves Tax Bill: Senate Tax Bill Now Out of Committee

Tax Calculator

In the U.S. House, the Tax Cuts and Jobs Act ( H.R. 1) (the Act) was approved by a vote of 227-205 yesterday. The legislation lowers the top corporate rate of 35 percent to a flat 20 percent. On the individual side, the bill would collapse the existing seven income tax brackets to four with rates of 12 percent, 25 percent, 35 percent, and 39.6 percent, and would roughly double the standard deduction. The Act would also limit home mortgage interest deductions, cap state, and local property tax deductions and eliminate deductions for other state and local taxes, and double the… Read more


Jul 11, 2017

Health Care Repeal and Replace, or Repair Instead?

US Capitol Building

According to multiple sources, the Senate Republicans will introduce an updated version of the Senate’s version of the American Health Care Act, called the Better Care Reconciliation Act (H.R. 1628) (BCRA) this week with hopes of voting on the measure next week. Protests during the July 4th recess and continuing in the halls of the Senate now make passage of BCRA less likely. Up to 10 Republican Senators have expressed reservations about the bill-passage in the Senate requires that all but 2 Republican Senators must vote for the measure. Senate Majority Leader Mitch McConnell (R-KY) will be briefing the full 52… Read more