The Bottom Line
Congress passed the reconciliation bill (the bill) after the Senate and House voted to send the legislation to President Donald Trump’s desk for signature. The bill passed the legislature after a period of intense debate and late-night negotiations. Key provisions included in the bill relate to the state and local tax deduction cap, clean energy credits, and restoration of business provisions such as 100% bonus depreciation, immediate deductibility of domestic research and experimental expenditures, and expanded business interest expense deductions limited by the Tax Cuts and Jobs Act of 2017.
Our legislative tracker contains updates on the provisions included in the bill and their potential impact on taxpayers. For a deeper dive into the provisions contained in the bill, take a look at our website for more articles and resources. Lastly, our podcast contains a deeper dive into the potential economic effects of the bill.
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