the tax cut and jobs act was passed on november 2, 2017.
the tax cut and jobs act was passed on november 2, 2017.
when was the tax cut and jobs act passed?
november 2 , 2017
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after gaining control of congress and the presidency in the 2016 elections, republicans sought to partially repeal the aca and pass a major tax cut bill in the 115th united states congress. as the party lacked a 60-vote super-majority in the senate, they sought to implement both parties through separate reconciliation bills, with the healthcare bill passed using the reconciliation process for fiscal year 2017 and the tax cut bill passed using the reconciliation process for fiscal year 2018. republicans were unable to pass their healthcare bill, the american health care act of 2017, because three senate republicans and all senate democrats voted against it, preventing the bill from gaining majority support in the senate. with the defeat of their healthcare bill, congressional republicans changed their focus to a separate reconciliation bill that would cut taxes. both houses of congress passed a tax cut bill in late 2017, though the byrd rule required the stripping of some provisions deemed extraneous. after both houses of congress passed an identical tax cut bill, president trump signed the tax cuts and jobs act of 2017 into law in december 2017. because of byrd rule restrictions, the individual tax cuts contained in the tax cuts and jobs act of 2017 will expire in 2027 barring further legislative action.
reconciliation (united states congress)