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Tax Cuts and Jobs Act Passed by the House

Client memorandum | November 17, 2017

On November 16, 2017, the U.S. House of Representatives passed H. R. 1, the Tax Cuts and Jobs Act (the “Act”). On the same day, the U.S. Senate Committee on Finance approved its tax reform plan, which is expected to be considered by the full Senate in the coming weeks. Although the Senate Finance Committee has not released legislative text, a summary of its plan makes clear that it differs from the Act in a number of significant respects. Below is a summary of some of the Act’s provisions that, if enacted, would have the greatest effects on businesses, investment funds, investors, and executives.

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