Senate Sets Stage To Work Out Tax Differences With House

Law360, Washington (December 6, 2017, 6:05 PM EST) -- The U.S. Senate started the process of negotiating a final tax bill Wednesday, voting to set up a committee to iron out differences between the Senate-passed tax overhaul and the House's own bill passed last month.

Wednesday’s 51-47 vote officially sets up the conference committee on the Tax Cuts and Jobs Act following a House vote on the $1.5 trillion measure earlier this week that started the process. The bills have substantial differences in treatment of intellectual property, offshore profits, pass-through enterprises, and even a resurrected...
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