U.S. House Ways and Means Chairman Kevin Brady (R-TX) on November 2, 2017, released H.R. 1, the “Tax Cuts and Jobs Act,” as well as a section-by-section summary of the proposed tax reform legislation. On November 3, Brady released amended legislative text of H.R.1, which revises the version released on November 2, and constitutes the so-called “Chairman’s mark.” The Chairman’s mark serves as the starting point for consideration of the legislation by the Ways and Means Committee.
Markup—formal consideration of the bill by the Ways and Means Committee—is scheduled to begin on Monday, November 6, 2017, and to continue throughout the week as necessary. Chairman Brady has indicated that he expects to make other modifications to his proposal before the markup begins.
Read KPMG's preliminary analysis and observations regarding the Chairman’s mark: House Republican tax reform bill—Initial observations on Chairman Brady's mark [PDF 1.7 MB]
KPMG will continue to provide preliminary analysis and observations regarding future amendments the Ways and Means Chairman may make to his mark. KPMG will do the same with regard to amendments made to the bill during markup.
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