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The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
At the very top of Republicans’ 100-day agenda with President-elect Donald Trump in the White House and GOP lawmakers in a majority is the plan to renew some $4 trillion in expiring tax cuts.
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Another key factor among the 2017 tax law changes enacted during Trump’s first term was the provision that brought the U.S. corporate income tax rates in line with those levied in Europe and Asia.
One major concern regarding Trump's proposed tax plan is its potential impact on the federal deficit. Estimates suggest extending these tax cuts could increase the deficit by over $3.7 trillion ...
Although Trump has not provided additional details of how the plan would work, the Tax Foundation, a nonprofit tax policy organization, said that eliminating taxes on overtime pay could “distort ...
The plan is known as the 2017 Tax Cuts and Jobs Act (TCJA) or the “Trump Tax Cuts.” The Act lowered individual income tax rates across most brackets and adjusted the income ranges for each ...
The 2017 Tax Cuts and Jobs Act (TCJA) made huge permanent cuts to corporate and business taxes while making temporary cuts to individual taxes to limit the bill’s expansionary effects on the ...