when does the republican tax plan go into effect
Tax Cuts and Jobs Act of 2017 The House passed the penultimate version of the bill on December 19, 2017, though for Senate procedural reasons small changes were needed and a revote was held in the House.[25] The Senate passed the final version on December 20 in a 51â€“48 vote and that final version was passed by the House of Representatives on that same day. The bill was signed into law by President Donald Trump on December 22, 2017. Most of the changes introduced by the bill went into effect on January 1, 2018 and will not affect 2017 taxes.[26]
American Health Care Act of 2017 On May 4, 2017, the United States House of Representatives voted to pass the American Health Care Act by a narrow margin of 217–213, sending the bill to the Senate for deliberation.[10] It was passed as a budget reconciliation bill that is part of the 2017 federal budget process; if this status is upheld by the Senate Parliamentarian, then no Senate filibuster will be permitted and passage of the bill in the Senate will require only a simple majority of votes.[11][12][13] It would repeal the parts of the Affordable Care Act within the scope of the federal budget, including provisions contained within the Internal Revenue Code such as the "individual mandates" (in IRC § 205), employer mandates (in IRC § 206) and various taxes (IRC § 201 et. seq.), and also modifications to the federal Medicaid program (in Sections 111-116 and 121).[14]