08 November 2017

Senate tax bill expected November 9, Ways & Means concludes third day of tax reform markup

The House Ways and Means Committee concluded the third day (November 8, 2017) of its markup of the "Tax Cuts and Jobs Act" after defeating another series of Democratic amendments. Meanwhile, Senate Finance Committee Chairman Orrin Hatch (R-UT) is expected to release his tax reform plan, November 9, following completion of the Ways and Means markup, according to press reports.

Ways and Means Committee Chairman Kevin Brady (R-TX) said he intends for the Committee to reconvene at 9 a.m. on Thursday, November 9, and that he expects to offer an amendment to bring the bill within the $1.5 trillion reconciliation limit, which he said is still a work in progress.

The Committee defeated on party-line votes of 16-24:

— Rep. Bill Pascrell's (D-NJ) amendment to provide disaster relief for past natural disasters (from 2012-2015) and for disasters from 2016 going forward, including for wildfires, as well as adequate resources to US territories

— Rep. Suzan DelBene's (D-WA) amendment to repeal the Cadillac tax

— Rep. Lloyd Doggett's (D-TX) amendment to strike the repeal of the alternative minimum tax (AMT) for corporations and individuals

— Rep. Sander Levin's (D-MI) amendment to tax carried interest as ordinary income

— An amendment by Rep. John Lewis (D-GA) to delay all revenue-reducing provisions of H.R. 1 until the United States withdraws from wars in Afghanistan, Iraq, and Syria and the deficit is reduced to zero.

Amendments are attached.

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Contact Information
For additional information concerning this Alert, please contact:
 
Washington Council Ernst & Young
   • Any member of the group, at (202) 293-7474.

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ATTACHMENTS

DelBene Amendment

Doggett Amendment

Levin Amendment

Lewis Amendment

Pascrell Amendment

Document ID: 2017-1886