Tax Newsflash on US Tax Reform


Tax Newsflash on US Tax Reform

How is the US tax reform progressing? How will this significant reform impact US inbound investment and cross-border businesses? This series shares with you our professional insights.


21 December 2017
【Tax Newsflash on US Tax Reform】Congress passed the tax bill

Very early on December 20 local time (just after midnight), the Senate passed the conference agreement to the Tax Cuts and Jobs Act (TCJA) by a vote of 51-48 (with Senator John McCain not voting due to illness). The House of Representatives passed the same measure in the early afternoon of December 20 by a vote of 224-201. Congress has therefore passed the tax reform bill. The TCJA will now be sent to President Trump for signing, upon which it will become law. The date upon which President Trump will sign the bill is uncertain, with some sources indicating that it may wait until January.

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Check out Tax News & Views – Capitol Hill briefing to access the latest developments published by Deloitte US's Tax Policy Group in Washington DC.

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