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July 3, 2024

Tax Cuts and Jobs Act Update


This newsletter provides timely information about the key policy discussions happening in Washington D.C. that may affect the tax reform/Tax Cuts and Jobs Act reauthorization bill through 2025 and possibly into 2026.

The 2024 elections will set the stage for legislative negotiations that some are already calling the “Super Bowl of tax.” The expiration of numerous provisions of the Tax Cuts and Jobs Act (TCJA) is likely to force Congress to reckon with trillions in federal tax revenue. At the same time, burgeoning federal debt and deficits increase pressure on Congressional negotiators to raise revenue and reduce tax incentives. Efforts to repeal, modify, or extend the TCJA are likely to touch almost every major sector of the economy.

© Arnold & Porter Kaye Scholer LLP 2024 All Rights Reserved. This Newsletter is intended to be a general summary of the law and does not constitute legal advice. You should consult with counsel to determine applicable legal requirements in a specific fact situation.