Congress has passed the conference report accompanying H.R. 1, the Tax Cuts and Jobs Act. (See Holland & Knight's alert, " Congress Releases Revised Conference Bill on Tax Reform," Dec. 18, 2017.) First, the House agreed to the conference report by a vote of 227-203 on Dec. 19, 2017, and the Senate passed the report by a vote of 51-48 early on the morning of Dec. 20. Because of the Senate's use of reconciliation procedures to consider the legislation, minor technical changes were made to the conference report (see chart of final conference bill, including the late revisions). This required the House to vote a second time, which occurred on the afternoon of Dec. 20, passing 224-201.
The legislation will likely be on President Donald Trump's desk for signature prior to Christmas. However, because of an issue with the Pay-As-You-Go (PAYGO) legislation, the actual bill signing may be delayed until Jan. 1, 2018, or soon thereafter to avoid certain across-the-board cuts to domestic programs.
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