For the latest news and information about tax reform, visit CUPA-HR's Tax Reform page.
NOVEMBER 10, 2017 (WASHINGTON INSIDER ALERT) - Last night, Senate Finance Committee Chairman Orrin Hatch (R-Utah) released his highly anticipated Senate tax reform legislation, the Tax Cuts and Jobs Act, that his committee plans to mark up beginning next week. The full copy of the bill, known as the “chairman’s mark,” and a summary of policy highlights have been posted to the committee’s website.
While CUPA-HR is still evaluating the specifics of the Senate bill, we are pleased that the chairman’s markup has preserved Section 117(d) (qualified tuition reduction) and Section 127 (employer-provided educational assistance program). This is in contrast to the House legislation advanced by the House Ways and Means Committee yesterday, which would repeal Sections 117(d) and 127.
The Senate Finance Committee plans to begin considering the legislation on Monday, November 13, and hopes to approve the legislation by the end of next week. Meanwhile, the House is expected to vote next week on its version of the legislation. Both bills are subject to change as they work their way through the process. In addition, if the House and the Senate pass different bills, the two versions will need to be reconciled in a conference committee before a final bill can be passed and sent to the president. Until then, we urge you to continue contacting your members of Congress and tell them not to gut tuition reduction and educational assistance benefits.