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Brief Outline of U.S. Tax Reform 2.0 Published

30 July 2018

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Proposed Changes

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United States

The U.S. House Committee on Ways and Means has published an outline of the House GOP plan for Tax Reform 2.0. The outline, which is short on details, includes measures in three main areas: Locking in the individual and small business tax cuts that were provided in the Tax Cuts and Jobs Act; Improving savings for families by: Creating a new Universal Savings Account; Expanding the permitted use of savings in 529 Education account to pay for apprenticeship fees to learn a trade, cover the cost of home schooling, and help pay off student debt; and Allowing penalty-free access to...