House Passes Tax Cuts And Jobs Act

Just an FYI – the House just passed H.B. 1 (the Tax Cuts & Jobs Act) last week. It now goes to the Senate who needs to either approve it, or pass their own version. One way or the other, it moves us one step closer to having tax reform law. I suspect the news media will be all over this. Some have suggested that it will still take some time for Congress to actually pass the law give the typical time it takes from bill introduction to presidential signing (usually many months). But consider this – this bill was introduced in the House on November 1st. It was passed 16 days later – that’s SUPER fast in congressional terms. So I’ll not be surprised if we have new tax law by Christmas.

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