House tax writers will meet to consider legislation. This makes permanent, expiring individual and business tax provisions in the 2017 tax law during the week of September 10.
House Ways and Means Committee Chair Kevin Brady, R-Texas, said he wants the legislation ready for floor action if House GOP leaders decide to bring it up for a vote before the end of September.
The legislation is expected to make permanent the Business Tax Cuts and Jobs Act’s lower tax rates for individuals as well as the controversial limit on state and local tax deductions. This will have a substantial impact on business tax opportunities for the foreseeable future.
Brady’s remarks on September 4 came as lawmakers returned to Washington from their month-long August recess. Brady said he will hold a listening session with GOP lawmakers before the tax markup next week.
NOTE; we have been informed that the Estate Tax repeal will be included in this legislation.
Sincerely,
Pat Soldano
Founder, Policy and Taxation Group