The U.S. Senate Finance Committee today held a hearing about “early impressions of the new tax law”—the first congressional review of the tax law enacted as Pub. L. No. 115-97 (December 22, 2017).
Witnesses at the hearing include members of the business and academic communities. A list of witnesses and the opening statements of the Finance Committee chairman and ranking member are posted on the committee website.
The Joint Committee on Taxation (JCT) announced that in connection with the Finance Committee’s hearing, the primary document for reference for this hearing is the JCT’s document, Overview of the Federal Tax System as in Effect for 2018 (JCX-3-18), February 7, 2018.
To supplement the February 2018 report, the JCT also prepared additional tables (JCX-32R-18) that present estimates that incorporate the Congressional Budget Office’s 2018 baseline projections (not available at the time of publication of the JCT’s February 2018 report).
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