This week, House Republicans introduced legislation, referred to as Tax Reform 2.0, that would expand the Tax Cuts and Jobs Act (TCJA). 6760, Protecting Family and Small Business Tax Cuts Act of 2018, is sponsored by Representative Rodney Davis (R-IL). Notably, the bill would make the TCJA individual and small business tax cuts (the so-called pass-through tax cuts explained here) permanent. Those cuts are currently set to expire in 2025, while the TCJA corporate tax cuts are permanent. (You can read more about the expanded child tax credit here.)

Source: Forbes September 13, 2018 01:15 UTC