SFIG Tax Policy Committee to Convene on Proposed Tax Reform Legislation

Last Thursday, November 1st, House Republicans released their proposed tax reform legislation entitled the "Tax Cuts and Jobs Act" bill (H.R.1). This bill contains various provisions with potential implications for structured finance transactions.

Throughout this week the House Ways and Means Committee has been engaged in a multi-day markup of the proposed legislation, with the goal of clearing it in the House before the Thanksgiving recess. Consideration of dozens of amendments has largely fallen along party lines. Meanwhile, as the House process continues, Senate Republicans are slated today to release their version of tax reform, which is rumored to contain some notable differences (e.g. treatment of state and local tax deduction, mortgage interest, estate tax, etc.) and will be the starting point for their upcoming debate next week in the Senate Finance Committee. Ultimately, both chambers will need to come to agreement on any differences before the President can sign any bill into law. 

SFIG's Tax Policy Committee will be convening regularly on this matter. We will also continue to monitor the legislative process for provisions that have implications for securitization as tax reform progresses through the House and Senate. If you would like to join SFIG's Tax Policy Committee, please contact Michael.Williams@sfindustry.org.

Stay tuned for next week's newsletter in which our issue spotlight will highlight the specific provisions that may be of concern to our members.

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