when does the 2017 tax plan take 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]
Health insurance in the United States The Tax Cuts and Jobs Act of 2017 effectively repealed the individual mandate, meaning that individuals will no longer be penalized for failing to maintain health coverage starting in 2019.[18] The CBO projects that this change will result in four million more uninsured by 2019, 13 million more by 2027.[18]