when was the tax cut and jobs act passed
November 2, 2017
title: Tax Cuts and Jobs Act of 2017 text: Tax Cuts and Jobs Act of 2017 The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, , is a congressional revenue act originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates for businesses and individuals; a personal tax simplification by increasing the standard deduction and family tax credits, but eliminating personal exemptions and making it less beneficial to itemize deductions; limiting deductions for state and local title: Tax Cuts and Jobs Act of 2017 text: process. The House passed the penultimate version of the bill on December 19, 2017, though for Senate procedural reasons small changes were needed and a revote was held in the House. The Senate passed the final version on December 20 in a 51–48 vote and that final version was passed by the House of Representatives on that same day. The bill was signed into law by President Donald Trump on December 22, 2017. Most of the changes introduced by the bill went into effect on January 1, 2018, and did not affect 2017 taxes. Critics in the media, think tanks title: Tax Cuts and Jobs Act of 2017 text: $10,000 annual limit on federal tax deductions for state and local taxes because they represent states where residents tend to pay higher state and local taxes. The Senate has no plans to consider the bills. Tax Cuts and Jobs Act of 2017 The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, , is a congressional revenue act originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), that amended the Internal Revenue Code of 1986. Major elements of the changes include reducing tax rates title: Tax Cuts and Jobs Act of 2017 text: 22 and signed by President Trump. The bill was introduced in the United States House of Representatives on November 2, 2017, by Congressman Kevin Brady, Republican representative from Texas. On November 9, 2017, the House Ways and Means Committee passed the bill on a party-line vote, advancing the bill to the House floor. The House passed the bill on November 16, 2017, on a mostly-party line vote of 227–205. No Democrat voted for the bill, while 13 Republicans voted against it. Companion legislation was passed by the Senate Finance Committee and Senate Budget Committee, both times on a straight party-line title: Tax Cuts and Jobs Act of 2017 text: initially passed in the House of Representatives by a vote of 227–203 on December 19, 2017. In the December 19 vote, the same Republicans who voted against the original House bill still voted against it, with the exception of Tom McClintock. However, several provisions of the bill violated the Senate's procedural rules, causing the need for the House of Representatives to re-vote with the provisions removed. On December 20, the Senate passed the bill by a party-line vote of 51–48. On the same day, the House of Representatives re-voted on the bill and passed it by a vote of 224–201.