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PSCA Executive Reports

April 26, 2018

Tax Cuts: Round Two?

It appears House Republicans may not be done attempting to reform the tax code. GOP leadership has floated the idea of a second tax cut bill to make permanent the individual tax cuts that sunset under the tax reform bill. We understand that Ways and Means Committee staff is also considering including retirement provisions, including retirement plan “consolidation” and “incentives” for employers to include a Roth option in their plans. Such a bill would be seen largely as a messaging tool before the mid-term elections.

Discussions about a second round of tax cuts come as the Congressional Budget Office announced that the cost for the Tax Cuts and Jobs Act of 2017 will be $400 billion more than previously estimated and that the deficit will reach $1 trillion by 2020, two years earlier than anticipated.  

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