By Dustin Stamper, Managing Director, National Tax Office, Tax Legislative Affairs – BDO USA
The House voted 218 to 214 on July 3 to approve the Senate-passed reconciliation bill, sending the sweeping tax bill to the president’s desk for a signing ceremony that could come as early as July 4.
The bill’s passage caps a furious sprint to finish the legislation before the self-imposed July 4 deadline. The Senate approved the bill in a 51-50 vote a day earlier after making a number of last-minute changes following intense bicameral negotiations.