1、 https:/crsreports.congress.gov Updated December 27, 2018The House-Proposed Tax Cut: Amendment to H.R. 88On November 26, 2018, Chairman Kevin Brady of the House Ways and Means Committee released the Retirement, Savings, and Other Tax Relief Act of 2018. The bill was reported to the House on November
2、 28, 2018. The measure is an amendment to a minor bill already passed by the House and Senate, H.R. 88. On December 10, Chairman Brady released a new version, which was subsequently modified on December 17 by a restoration of two extender provisions and passed the House on December 20. The original
3、bill had six major parts: (1) the extension of expiring provisions (the “extenders”), (2) disaster relief, (3) provisions for retirement plans, (4) benefits for start-up firms, (5) some technical corrections to the 2017 tax revision (P.L. 115-97), and (6) reforms to the Internal Revenue Service (IRS
4、). The November 28 proposal was estimated to cost $54.1 billion in revenue losses from FY2019 to FY2028, with a small $1.4 billion savings in spending. The new version is estimated to cost $99.2 billion. The revised bill eliminates most of the extender provisions as well as the start-up provisions a
