The House passed the most sweeping tax code rewrite in three decades earlier this afternoon. The bill now moves to the Senate. Senate Majority Leader Mitch McConnell (R-Ky) said earlier Tuesday that the Senate will vote on the bill later this evening. It is expected that the bill will pass this vote, as well. Passage by the Senate would then free the bill for President Donald Trump’s signature, which would likely happen sometime between Wednesday or as late as early January.
As always, contact your Schneider Downs representative with any questions about this pending tax legislation. Additional details will be forthcoming as they emerge.