House passes Tax Cuts and Jobs Act conference agreement | KPMG | GLOBAL
close
Share with your friends

House passes “Tax Cuts and Jobs Act” conference agreement

House passes Tax Cuts and Jobs Act conference agreement

The U.S. House of Representatives today passed, 227 to 203,* the conference report to H.R. 1, “the Tax Cuts and Jobs Act.” The conference report is the compromise bill, blending elements of both the previously passed House and Senate versions of the tax reform bill.

1000

Related content

*12 House Republicans voted against the bill.

 

The House vote today moves the legislation one step closer to enactment. There are reports that the Senate could vote on the conference report as early as today, Tuesday, December 19.

Assuming the Senate passes the conference report, the bill would then be prepared to be sent to the White House for action by the president. The bill would first need to be “enrolled”—a process by which a final copy of the bill, having passed both chambers of Congress, is printed on parchment paper, signed by the appropriate House and Senate officials, and submitted to the president for signature. 

 

Read KPMG’s initial analysis and observations about the conference report to H.R. 1: Conference agreement for H.R. 1, Tax Cuts and Jobs Act - Initial observations [PDF 1.1 MB]

<p>© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.</p> <p>KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.</p>

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit