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U.S. House of Representative Passes Tax Cuts 2.0

01 October 2018

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Proposed Changes

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United States

The U.S. House of Representatives has passed the three bills that comprise the so-called Tax Cuts 2.0 package. These include: The American Innovation Act of 2018 (Bill H.R. 6756), which was passed on 27 September 2018 and includes a provision to allow new businesses to write off a larger amount of their start-up and organizational expenditure and a provision that would allow companies acquiring a start-up to retain the start-up net operating losses and tax credits after the change in ownership; The Family Savings Act of 2018 (Bill H.R. 6757), which was passed on 27 September 2018 and includes provisions...