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“Tax Reform 2.0” Passes Committee

Sept. 14, 2018 The House Ways and Means Committee approved legislation to permanently extend the lower individual tax rates included in the tax reform law signed late last year. Known as “Tax Reform 2.0,” the package of bills would lock in lower rates set to expire at the end of 2025.

House Speaker Paul Ryan (R-Wis.) has said he wants to bring the bill to the House floor before the end of the month. In addition to cutting the top C-corp rate, the ICBA-supported Tax Cuts and Jobs Act of 2017 reduced the individual rates affecting Subchapter S banks.




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