EAlert: House Republicans Plan Second Tax Bill

The House Ways and Means Committee is planning a “Phase II” tax plan directed at individuals and families to complement the Tax Cuts and Jobs Act. The tax act passed in December only made the C Corp tax cuts permanent, not the individual and flow through tax cuts.

The House is going to attempt to make permanent the individual cuts. If there is a need to get democratic support in the senate, there could be movement on the loss of the SALT deduction. The discussion is certainly not dead by any means.

Jeffrey G. Cohen Jeffrey G. Cohen, CPA is the Partner-in-Charge of Tax Services at Grassi. With over 30 years of experience, Jeff specializes in serving companies within the Manufacturing and Distribution Industry, with an emphasis on the Food & Beverage and Pharmaceutical sectors. A leading tax expert in the New York Metropolitan area, Jeff has enabled his clients to realize significant tax savings through proper Income and... Read full bio