The Washington Report: – Special Tax Edition
“The top legislative priority for President Trump and congressional Republicans in 2025 will be to enact a reconciliation bill, prominently featuring tax provisions, including extending the 2017 Tax Cuts and Jobs Acts (TCJA). Major portions of the TCJA are set to expire after December 31, 2025. The expiring provisions include the basic structure of the Tax Code applicable to individuals and pass-thru businesses taxed as partnerships, S corporations and sole proprietorships. The very narrow majority in both the House and Senate will make enacting legislation through reconciliation very difficult.”
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