Tax Reform Moves Forward
HR. 1 (Tax Cuts and Jobs Act) is one step closer to the President’s desk as House and Senate negotiators move toward a final deal on a tax cut package. The first and only planned public meeting of the conferees on the bill is planned for Wednesday afternoon, but negotiations are ongoing. Members continue to negotiate the differences in the House and Senate-passed bills to come to some agreement on issues such as the corporate income rate, tentatively landing on increasing the rate one percent to 21 percent to help finance other tax breaks. They also agreed to set the top individual income tax rate at 37 percent, down from the 39.6 percent in the House bill and the 38.5 percent in the Senate bill.
Alston & Bird is inviting all CDA members to participate in ongoing weekly calls with its senior tax team to hear the latest on the process and details of the tax proposal. Participants will have the opportunity to ask questions. To receive information about the calls, which occur at 11:00AM EST on Tuesdays throughout the next month, please visit this site and enter your information.