The conference committee on December 15, 2017, approved the report of its agreement on H.R. 1, “the Tax Cuts and Jobs Act.” The conference report is a compromise bill, blending elements of both the previously passed House and Senate versions of the bill.
KPMG has prepared a preliminary analysis with observations regarding the conference agreement. Read Conference agreement for H.R. 1, Tax Cuts and Jobs Act - Initial observations [PDF 1.1 MB]
Read the 708-page text of the conference agreement [PDF 2.25 MB] produced by the U.S. Government Publishing Office.
The Joint Committee on Taxation (JCT) provided estimates of the budget effects of the conference agreement on H.R. 1, the “Tax Cuts and Jobs Act.” Read JCX-67-17
The JCT also released a report on the distributional effects of the conference agreement. Read JCX-68-17
© 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.
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.