Economical and Fiscal Policy
Proposed Congressional Tax Plans: Implications for Nevada
In 2017, the U.S. Congress took action to amend the Internal Revenue Code (IRC), or modify certain existing federal income tax provisions as they pertain to individuals and businesses. a The U.S. House of Representatives passed legislation on November 16, 2017, referred to as the Tax Cuts and Jobs Act (TCJA). On December 2, 2017, the U.S. Senate passed its version of the TCJA. As the House and Senate bills are not identical, the two pieces of legislation must be reviewed by a conference committe
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