Tax-exempt municipal bonds avoided a potential worst-case scenario of elimination in the House-passed budget reconciliation bill — the One Big Beautiful Bill Act. The recently released tax language from the Senate Finance...more
President Trump has indicated that one of his key economic priorities is to extend the expiring provisions of the Tax Cuts and Jobs Act (TCJA). However, Congress still needs to resolve disagreements on the cost and funding of...more
We have already blogged about many of the direct impacts that the Tax Cuts & Jobs Act has had on the municipal bond market, such as the elimination of advance refundings for governmental bonds and the elimination of qualified...more
On December 22, 2017, the President signed the Tax Cuts and Jobs Act (the “Final Bill”) into law, bringing an end to the nearly two-month rollercoaster ride that had the public finance industry white-knuckled and a little...more
On December 22, 2017, President Donald Trump signed into law the most far-reaching tax reform legislation in a generation after Congress approved a short-term spending bill on Thursday, which will keep the government funded...more
2018 will be a year of monumental tax law changes following the recent approval by the House and Senate of the Tax Cuts and Jobs Act. President Donald Trump is expected to sign the bill into law in the coming days. While the...more
The U.S. House and Senate have approved the reconciled tax reform bill that was reported out of the House and Senate Conference Committee last week. The bill was passed on Dec. 20, 2017, and has been sent to the President for...more
UPDATE: In the early morning hours of Saturday, December 2, 2017, the United States Senate, by a vote of 51-49, approved its version of H.R. 1, the Tax Cuts and Jobs Act of 2017, commonly referred to as the Senate’s tax bill....more
With the termination of tax-exempt advance refunding bonds squarely in the crosshairs of the tax reform measures making their way through both houses of Congress, the municipal market needs to consider the impact of the loss...more
The Senate Finance Committee unveiled a section-by-section description of its tax reform package on November 9, 2017, including municipal bond provisions that reject efforts by the House Ways and Means Committee to terminate...more
We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the international corporate tax landscape. ...more
On November 9, 2017, the U.S. Senate Finance Committee released the Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” (the “Senate Finance Committee Mark”), which sets forth a summary of the proposed tax...more
Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more
On November 9, 2017, the House Ways and Means Committee approved H.R. 1 -- the Tax Cuts and Jobs Act -- which now is teed up for approval by the full House of Representatives. A few hours later, Senate Finance Committee...more
On November 2, 2017, the House Committee on Ways and Means released a draft of its Tax Cuts and Jobs Act (the “Tax Bill”). The Tax Bill proposes to eliminate the federal tax exemption of interest income from all private...more
On November 2, 2017, the Republican leadership of the United States House of Representatives introduced the Tax Cuts and Jobs Act (the “Bill”). The Bill would make significant changes to tax rules that apply to tax-exempt...more
Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - Ongoing coverage of tax reform proposals, including a report published by the Committee for a...more