The United States Senate has passed their version of a tax reform bill paving the way for both chambers to go to a conference committee where differences in the House and Senate versions will be ironed out to produce a final tax reform bill.
“For too long, we have been forced to comply with an outdated, expensive and burdensome tax code that works against the vast majority of working Americans,” said Rep. David Rouzer (R-NC). “Passage of tax reform by the United States Senate is a huge victory for the American people, our economy, and country. The respective House and Senate versions of tax cuts and reform respect hardworking taxpayers and the challenges they face by returning money to those who earned it. As the House and Senate go to conference to produce a final bill, we will work to deliver a bold, pro-growth tax package that will create a healthier economy, many more jobs and bigger paychecks.”
With the support of Congressman Rouzer, the Tax Cuts and Jobs Act (H.R. 1) was passed by the United States House on Thursday, November 16, and was sent to the United States Senate which voted last week to approve the bill. A conference committee, where members of both chambers will reconcile the differences between the two bills and produce a final version, will meet before the final measure is approved by the full House and Senate. It will then be sent to the President to be signed into law.