Raffa Resources
Raffa Resources
Raffa Resources
​​Tax Cuts and Jobs Act - Special Report (12/22/2017) ​​President Signs Sweeping Tax Overhaul Into Law

The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and signed by  President Trump. After a last-minute procedural glitch that required the Senate  to vote first on the final bill, the most sweeping change to the U.S. tax code in  decades cleared the Senate, 51 to 48, in the early morning hours of December  20, followed by House approval, 224 to 201, later the same day. President Trump  signed the bill into law at the White House on December 22, 2017. 

H.R. 1, as approved by Congress, impacts virtually every individual and business  on a level not seen in over 30 years. As with any tax bill, however, there will  be “winners” and “losers.” This historic bill calls for lowering the individual and  corporate tax rates, repealing countless tax credits and deductions, enhancing  the child tax credit, boosting business expensing, and more. The bill also  impacts the Affordable Care Act (ACA), effectively repealing the individual shared  responsibility requirement. Most provisions are effective starting in 2018.

Click to read the full tax briefing.



If you have any questions or need clarification, feel free to reach out to Jane Horn at  jhorn@raffa.com, Mitra Mamdouhi at mmamdouhi@raffa.com  or Debra Hildreth at dhildreth@raffa.com.