With Congress in recess for the Thanksgiving holiday, this week is expected to be significantly less exciting than the last two weeks of tax reform. The House passed its tax reform bill last Thursday afternoon. Later that night, the Senate Finance Committee approved a series of manager’s amendments to the Senate Mark (the Senate’s summary of its tax reform proposal), and promptly thereafter reported the revised Senate Mark out of committee. You can read the amendments offered here.
On Friday, the Joint Committee on Taxation released a revised revenue score for the Senate Mark as reported out of committee, which you can read here. We are still waiting on updated distributional tables as well as the official JCT Summary of the final Senate Mark.
Although Senators have gone back to their districts for the week, the same is not necessarily true of committee staff. The next task at hand is turning the Senate Mark into legislative text in time for the full Senate’s consideration of the tax bill next week. We are waiting eagerly.
Here’s a roundup of posts since last week on the Senate Mark.
- Senate Mark’s Deemed Repatriation
- Senate Mark’s Base Erosion Tax
- Chairman Hatch’s Modifications at a Glance
- Senate Mark’s Changes to Employee Benefits
- Executive Compensation Changes in Nov. 17 Amendments to Senate Mark