The House of Representatives passed its Tax Reform 2.0 legislation on Friday, and it has the potential to make some pretty significant changes to the already-revised U.S. tax code. Among other things, it would make the individual tax cuts created by the Tax Cuts and Jobs Act permanent and also make significant changes that affect retirement savers.
With that in mind, here’s an overview of what Tax Reform 2.0 would do and where the legislation goes from here.
Source: Matthew Frankel, CFP (TMFMathGuy) The Motley Fool
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Rick Epple, CFP(r), CeFT (r)