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wiki:contents:us_tax:tax_reform [2017/11/08 13:45]
karen [Efforts to Support Tax Reform in the US]
wiki:contents:us_tax:tax_reform [2018/12/31 20:09]
karen reorganise TCJA content
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 ====== US Tax Reform ====== ====== US Tax Reform ======
 +
  
 ===== Tax Reform Proposals ===== ===== Tax Reform Proposals =====
  
 NB - this discussion covers only the proposals that relate directly to the taxation of non-resident US citizens and green card holders. NB - this discussion covers only the proposals that relate directly to the taxation of non-resident US citizens and green card holders.
 +==== Tax Fairness for Americans Abroad Act ====
 +
 +[[https://www.congress.gov/bill/115th-congress/house-bill/7358|HR7358]] was introduced by Rep. George Holding (R-NC) on 20 December 2018. See the [[http://fixthetaxtreaty.org/2018/12/21/tax-fairness-for-americans-abroad-act/|blog post]].
 +
 ==== Republicans Overseas ==== ==== Republicans Overseas ====
  
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 Heitor David Pinto has drafted a proposal that essentially replaces citizen with resident throughout the U.S. Tax Code. This proposal can be found [[https://drive.google.com/file/d/0B7VqDyDIAgW2N2IyMkJxY1hpNTA/view|here]]. Heitor David Pinto has drafted a proposal that essentially replaces citizen with resident throughout the U.S. Tax Code. This proposal can be found [[https://drive.google.com/file/d/0B7VqDyDIAgW2N2IyMkJxY1hpNTA/view|here]].
 +
 +===== Tax Cuts and Jobs Act 2017 =====
 +
 +House Republicans introduced their tax bill on 2 November 2017. On 9 Nov 2017 the House Ways and Means completed their mark-up. 
 +
 +Bloomberg has prepared a table comparing the House and Senate versions of the bill ([[http://src.bna.com/t7h|pdf]]).
 +
 +The final bill was passed by Congress on 20 December and signed into law on 22 December 2017. 
 +==== House Bill ====
 +
 +[[https://www.congress.gov/bill/115th-congress/house-bill/1|H.R.1 - Tax Cuts and Jobs Act]] was introduced by Rep Kevin Brady on 2 Nov 2017. Discussion can be found in [[http://isaacbrocksociety.ca/2017/11/02/here-is-the-2017-u-s-house-tax-cuts-and-jobs-act-bill-does-it-help-or-harm-us/|this thread]] on the Isaac Brock Society. Description by the Joint Committee on Taxation ([[https://www.jct.gov/publications.html?func=startdown&id=5031|pdf]])
 +
 +**News Articles**:
 +  * [[https://www.msn.com/en-us/news/markets/republicans-just-made-a-slew-of-changes-to-their-tax-bill/ar-AAuylfd|Republicans just made a slew of changes to their tax bill]] (Business Insider) 8 Nov 2017
 +  * [[https://www.taxconnections.com/taxblog/us-tax-reform-bill-appears-to-confiscate-12-of-retained-earnings-of-certain-canadian-controlled-private-corporations/#.WgUUxbOWZaR|US Tax Reform Bill Appears To Confiscate 12% of Retained Earnings of Certain Canadian Controlled Private Corporations]] (Tax Connections) 8 Nov 2017
 +  * [[https://www.cnbc.com/2017/11/09/gop-tax-reform-plan-advanced-by-house-ways-and-means-committee.html|House Republicans advance tax bill, aim to bring it to a vote next week]] (CNBC) 9 Nov 2017
 +
 +==== Senate Bill ====
 +
 +From the Senate Finance Committee: 
 +  * [[https://www.finance.senate.gov/chairmans-news/hatch-unveils-pro-growth-pro-jobs-pro-family-tax-overhaul-plan-|Press Release]]
 +     * Description of the Chairman's Mark of the “Tax Cuts and Jobs Act” ([[https://www.finance.senate.gov/imo/media/doc/11.9.17%20Chairman's%20Mark.pdf|pdf]])
 +
 +**News Articles**:
 +  * [[https://www.nytimes.com/2017/11/09/us/politics/facing-math-trouble-house-panel-races-to-adjust-tax-bill.html|Senate Tax Plan Diverges From House Version, Highlighting Political Pressures]] (New York Times) 9 Nov 2017
 +  * [[https://www.businessinsider.com.au/trump-gop-tax-reform-senate-bill-text-details-rate-2017-11|US Senate Republicans just unveiled their enormous tax bill]] (Business Insider) 10 Nov 2017
 +  * [[https://www.rollcall.com/news/politics/finance-committee-wont-mark-tax-bill-language-next-week|A Tax Bill in Plain English? Senate Finance Committee Is Already There]] (Roll Call) 9 Nov 2017
 +  
 +==== Post-Enactment ====
 +
 +For a discussion of the provisions that affect international businesses, including local corporations owned by nonresident US citizens, see the [[wiki:contents:us_tax:cfcs|wiki page on Controlled Foreign Corporations]].
 +
 +Other impacts of TCJA were discussed in [[http://fixthetaxtreaty.org/2018/12/19/tcja-and-us-expats/|this blog post]].
 +
 +A complete list of blog posts on TCJA can be found [[http://fixthetaxtreaty.org/category/tcja/|here]].
  
 ===== Efforts to Support Tax Reform in the US ===== ===== Efforts to Support Tax Reform in the US =====
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 In January 2017, a link to [[https://docs.google.com/spreadsheets/d/1v4kBW-PiVokAJbmmQyycCjQHCP6ym6oozdtW91ZWy-M/edit#gid=1727735074|this spreadsheet]] of Congressional Assistants to members of the tax committees was [[https://www.facebook.com/groups/AmericanExpatriates/permalink/717143111785097/|posted on Facebook]] (NB: it is not clear that anyone is maintaining this spreadsheet). In January 2017, a link to [[https://docs.google.com/spreadsheets/d/1v4kBW-PiVokAJbmmQyycCjQHCP6ym6oozdtW91ZWy-M/edit#gid=1727735074|this spreadsheet]] of Congressional Assistants to members of the tax committees was [[https://www.facebook.com/groups/AmericanExpatriates/permalink/717143111785097/|posted on Facebook]] (NB: it is not clear that anyone is maintaining this spreadsheet).
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wiki/contents/us_tax/tax_reform.txt · Last modified: 2018/12/31 20:09 by karen
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