By a vote of 227 to 205, the House of Representatives passed the " Tax Cuts and Jobs Act." Previously, Cadwalader attorneys reviewed business provisions, potential effects on securitization vehicles and investment funds, and potential effects on nonprofits of the house bill.
On November 15, Senate Finance Committee Chair Orrin Hatch (R-Utah) released the modified mark of the Senate's version of the bill. The Committee approved the new version voting along party lines, 14-12, to forward the proposal on to the full Senate.
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