Another Step Towards Tax Reform: Senate Releases Text of Its Tax Plan | Practical Law
On November 20, 2017, the Senate Finance Committee released the full text of its version of the Tax Cuts and Jobs Act (the Senate Act). Differences remain between the House and Senate versions of the bill. On November 28, 2017, the Senate's tax bill cleared the Senate Budget Committee, paving the way for consideration by the full Senate. The full Senate is expected to vote on the bill the week of November 27, 2017. Many of the proposed changes in the tax plan would significantly impact the design of executive compensation programs, while other provisions would affect many common employee benefit arrangements.