Tax Reform Bill Signed by President
On December 20, 2017, the Senate approved the finalized tax reform bill with a vote of 51-48 and the House approved the bill for the second time with a vote of 224-201. The House originally voted on the bill on December 19, 2017, but had to revote due to three provisions that violated Senate budget rules. The Tax Cuts and Jobs Act was signed into law by President Trump on December 22, 2017.
Senate and House Move to Conference to Finalize Tax Reform Bill
On December 6, 2017, the Senate voted to go to conference with the House, who had also voted to go to conference on December 4. The bodies will negotiate the differences in their respective bills and then will need to be voted on again before being signed into law by the president.
Senate Passes Tax Reform Bill
On December 2, 2017, the Senate passed their version of a tax reform bill by a vote of 51-49. The bill, entitled Tax Cuts and Jobs Act, underwent many changes leading up to the vote in the early hours of December 2; however, the principle components of the bill remained.
The House passed a similar but distinct bill on November 16.
Senate Votes to Start Floor Debate on Tax Refrom Bill
On November 29, the Senate voted to begin debate on their version of the tax reform bill by a vote along party lines of 52-48. Several senators have indicated that, although they voted in favor of moving to debate on the bill, they are still not in agreement with the overall reform package. A series of amendments are expected to be introduced and voted on in the coming days, with a final passage vote before the end of the week.
Since the House has already passed a bill, if a bill passes the Senate, the chambers could go to conference to resolve the differences or the House could vote again on the bill exactly as it was passed by the Senate.
Houses Passes Tax Refrom Bill
On November 16, the House passed a tax reform bill by a vote of 227-205.