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Tax Deductions Blog

Second Tax Cut Bill in the Works

Authored by Amy E. Ebeling
Amy E. Ebeling
Attorney
Wausau Office

Posted on May 30, 2018
Filed under Tax Deductions

White House Director of Legislative Affairs Marc Short told reporters last week that the Trump Administration has been working with the House Ways and Means Committee Chairman Kevin Brady and the Senate Finance Committee on a second tax cuts proposal that would make permanent the tax cuts for individuals passed in the Tax Cuts and Jobs Act (“TCJA”) on December 22, 2017.  Short declined to give specifics or discuss the possibility of other tax cuts, but said there were plans to propose the bill possibly by the end of the summer.  The tax cuts for individuals in the TCJA are set to expire at the end of 2025.   More to come as the summer and tax discussions heat up.