Alert: Changes coming to Congress impact tax reform
The November 6 midterm election significantly altered the future dynamics of Congress and the committees responsible for all tax legislation. Beginning in January 2019, the new Congress will feature a divided government, with a Democratic majority on the House Ways and Means Committee and a Republican majority on the Senate Finance Committee.
The changes in Congressional composition are likely to result in different legislative priorities within each chamber beginning in 2019, which will make it difficult for any tax legislation to progress. However, the current Congress still has a limited amount of time left to enact legislation. A lame-duck session is now beginning and is expected to consider several tax matters.
Find out what tax reform issues are still on the agenda, which regulations continue to advance, and how to plan to maximize the current rules.