JCT Summarizes Chair’s Mark of Tax Cuts and Jobs Act
JCX-48-17
- Institutional AuthorsJoint Committee on Taxation
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2017-94611
- Tax Analysts Electronic Citation2017 TNT 213-24
DESCRIPTION OF AN AMENDMENT IN THE NATURE OF
A SUBSTITUTE TO H.R. 1, THE “TAX CUTS AND JOBS ACT”
JOINT COMMITTEE ON TAXATION
November 3, 2017
JCX-48-17
The Chairman's amendment in the nature of a substitute includes the following modifications to H.R. 1:
Section 1001 of the bill: the provision delaying until 2023 the use of C-CPI-U for purposes of inflation adjustments is stricken. Thus, under the Chairman's amendment in the nature of a substitute, the adjustments to the inflation indexing calculations provided in section 1001 of the bill take effect for taxable years beginning after December 31, 2017.
Section 4502 of the bill, “Limitation on Treaty Benefits for Certain Deductible Payments,” is stricken.
Other technical and conforming amendments are made.
- Institutional AuthorsJoint Committee on Taxation
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2017-94611
- Tax Analysts Electronic Citation2017 TNT 213-24