House Panel Approves Wide-Ranging Tax Legislation

Law360, Washington (November 9, 2017, 3:38 PM EST) -- The House Ways and Means Committee on Thursday approved sweeping tax legislation after adopting last-minute changes to allow the bill to be passed by a simple majority in both the House and the Senate.

Panel members voted along party lines to send the bill to the full House shortly after they assented to an amendment that committee Chair Kevin Brady, R-Texas, said would keep the bill’s revenue losses under $1.5 trillion, which means it could be considered under fast-track budget rules.

The 29-page amendment included changes...
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