The U.S. House of Representatives passed a plan to overhaul the tax code. Relatively shortly thereafter, the U.S. Senate Finance Committee approved a separate tax plan - on a party-line vote of 14-12 - sending their measure to the full Senate.
The Senate version would repeal the Affordable Care Act’s requirement that most individuals purchase health insurance, while the House legislation is silent on the issue. Click here to see how the two tax packages differ
Members of the Greater Cleveland Partnership (GCP) believe a thoughtful, balanced, and competitive tax environment is critical to the success of our economy and that any reforms made must be all-inclusive and benefit all sectors of the business community.
The final results are far from a finished product. If the Senate is able to pass a bill, the House and Senate are expected to go to a conference committee to reach a compromise.
The GCP will continue to represent our members’ interests throughout the debate and advocate for comprehensive federal tax and entitlement program reform.