The House Rules Committee will convene on Wednesday, Sept. 26 at 3 p.m. to write a rule for the floor consideration of the Tax Reform 2.0 bills. This means that floor debate and votes could take place as early as Thursday, Sept. 27. House passage of the three bills is expected.
In case you missed it, here are the Tax Reform 2.0 related bills and documents:
Protecting Family and Small Business Tax Cuts Act (H.R. 6760)
This bill would make permanent the individual and small business tax cuts enacted in 2017. The Joint Committee on Taxation (JCT) estimates that the measure would reduce federal revenue by about $631 billion.
- Text of H.R. 6760 (as amended) – JCT description of the substitute amendment
- JCT Description of H.R. 6760 (as introduced)
- JCT Score of H.R. 6760
Family Savings Act (H.R. 6757)
This bill would make it easier for individuals to save for retirement, education, and other family expenses. For example, the bill would create Universal Savings Accounts, expand 529 plans, and allow for penalty-free withdrawals from retirement plans for expenses related to the birth or adoption of a child. The JCT estimates that the measure would reduce federal revenue by about $21 billion.
- Text of H.R. 6757 (as amended) – JCT description of the substitute amendment
- JCT Description of H.R. 6757 (as introduced)
- JCT Score of H.R. 6757
American Innovation Act (H.R. 6756)
This bill contains provisions to spur entrepreneurship and lower barriers for start-ups. The JCT estimates that the measure would reduce federal revenue by about $5.4 billion.
- Text of H.R. 6756 (as amended) – JCT description of the substitute amendment
- JCT Description of H.R. 6756 (as introduced)
- JCT Score of H.R. 6756