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All | 2017 | 2016 | 2015

What’s Encouraging About Both Tax Reform Bills – But Still Long Way to Go

On Thursday, the House of Representatives passed its Tax Cuts and Jobs Act 227-205 along mostly partisan lines – though 13 Republicans (none from Indiana; all from California, New Jersey and New York) voted against it. Meanwhile, the Senate Finance Committee completed markup on its tax reform effort and moved that bill to the full Senate, where a vote [...]

2017-11-17T15:36:52+00:00 November 17th, 2017|

House Committee Passes Tax Reform Bill; Senate Unveils Own Measure – Where Does Donnelly Stand?

On Thursday, the House Ways and Means Committee concluded its markup of the GOP tax reform bill (the Tax Cuts and Jobs Act) and voted along party lines to move the measure, 24-16. The core of the House bill reduces the number of individual tax rates, slashes the corporate tax rate and eliminates many deductions and credits. The bill [...]

2017-11-10T11:46:20+00:00 November 10th, 2017|

New Federal Tax Plan: Meaningful, Yes. Comprehensive Reform, … ?

The “Tax Cuts and Jobs Act” (H.R. 1) has finally arrived! The long-awaited details – over 400 pages worth – are now out there for all to debate. This is a debate that will play out before the House Republican Ways and Means Committee next week. Much of the public discourse will focus on how it impacts individuals, but [...]

2017-11-03T13:39:35+00:00 November 3rd, 2017|

Senate Passes Budget With Tax Reform in Sight; Donnelly’s End Outsourcing Amendment Adopted

Thursday night, the Senate passed its fiscal 2018 budget on a 51-49 vote. This action now paves the way for the tax overhaul process to begin. A significant difference between the Senate-passed bill and the one sent over by the House is the amount the national debut can be raised by tax cuts. The Senate version would allow debt [...]

2017-10-20T14:16:44+00:00 October 20th, 2017|